According to a media report on Dec. 17, Sam Bankman-Fried, former CEO of cryptocurrency exchange FTX, is expected to appear in court in the Bahamas on Dec. 19. Meanwhile, he plans to reverse his previous decision and agree to be extradited to the U.S. to face a series of criminal charges.
The report points out that the U.S. prosecutor released a 13-page federal indictment on December 13, charging him with 8 criminal counts of securities fraud, wire fraud, commodities fraud, money laundering, fraud against the United States, and campaign finance violations, respectively.
Bankman-Fried has been in custody in the Bahamas since his arrest last Monday at the request of U.S. authorities. At his first court hearing appearance, his attorney said his client would oppose deportation to the United States if all charges against him were proven.
But according to the latest updates, Bankman-Fried has made a major reversal in his attitude and will drop his previous decision of opposing extradition to the U.S. when his trial begins on Monday. It is unclear what prompted his change of heart as of now.
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