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Sam Bankman-Fried will no longer fight extradition

The harsh conditions in the Bahamas prison may have pushed the former FTX CEO to prefer extradition to the US.

By Finst News
• 2 min read
Sam Bankman-Fried will no longer fight extradition

The harsh conditions in the Bahamas prison may have pushed the former FTX CEO to prefer extradition to the US.

According to reports from Reuters, the arrested ex-CEO of FTX Sam Bankman-Fried does not want to contest extradition to the US any further. The report says he is set to appear in court today, Monday, December 19, to back away from his current decision. Bankman-Fried was arrested in the Bahamas last week in the Bahamas. At the same time, a New York court charged him with multiple counts of securities fraud and money laundering. He now faces up to 115 years in prison.

Harsh conditions in the Bahamas

The reasons for his appeal are not yet known. The FTX founder may have disliked domestic detention and the denial of bail. Instead, he was moved to Fox Hill Prison in the Bahamas. According to the U.S. State Department, conditions there are reportedly particularly unfriendly. The facility is said to be plagued by vermin and lacking adequate sanitation.

After his extradition to the US, temporary detention in a New York prison could be possible. There, Bankman-Fried would likely spend about a year waiting for his trial.

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