Sources: SBF will no longer oppose extradition to the United States

2022-12-18 09:00:20

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ChainCatcher According to Reuters, sources revealed that FTX founder SBF is expected to state in a Bahamian court on Monday that he will no longer contest his extradition to the United States, where he faces criminal fraud charges.

Earlier this week, SBF was arrested in the Bahamas and faced fraud charges. A U.S. grand jury has accused him of committing or conspiring to commit fraud against FTX's customers and lenders, as well as money laundering. The U.S. Securities and Exchange Commission has accused him of defrauding investors and also alleged that he used customer funds for political donations and a lavish lifestyle.

After a judge denied SBF's request to remain at home while awaiting extradition hearings, he is currently being held at Fox Hill prison. If all criminal charges are upheld, SBF could face up to 115 years in prison. (The Block)

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