Sam Bankman-Fried, the disgraced FTX founder accused of orchestrating one of the biggest ponzi schemes since Bernie Madoff, could be released on bail once he lands on US soil.
SBF, who is currently detained at the Fox Hill prison in Nassau, is signing documents paving the way for a US extradition on Wednesday. Although details of the extradition papers remain unknown, The New York Times reported that SBF is discussing a potential bail deal with prosecutors, whereby he would be put under tight restrictions such as home detention once he lands on American soil, rather than spending time at the Metropolitan Detention Center.
A person familiar with the matter told the newspaper that electronic monitoring is also a possibility prosecutors and SBF’s legal team are considering. Following the 11AM hearing in Bahamas, US authorities are to said to immediately escort the disgraced crypto mogul via a non-commercial aircraft to be arraigned at the Federal District Court in Manhattan.
Information for this briefing was found via The New York Times. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
