Monday, Sam Bankman-Fried must be heard to explain that ultimately he will not contest his extradition to the United States. When this takes place, he should therefore go to a New York prison, or in its outskirts, pending his trial.
Sam Bankman-Fried will consent to his extradition to the United States
Every day its new twist in the FTX affair. While we learned, just two days ago, that Sam Bankman-Fied (SBF) reiterated his request for bail, our colleagues from Reuters report this time that the person concerned finally accepts his extradition.
After an initial challenge, SBF seems to be resigned, and must be heard monday to reconsider his original request.
When Sam Bankman-Fried’s extradition to the United States is effective, he should be transferred to the Brooklyn Metropolitan Detention Center, according to attorney Zachary Margulis-Ohnuma. However, the latter indicates that the ex-CEO could also be imprisoned on the outskirts of New York, due to the overcrowding of this prison.
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Moreover, even in the United States, SBF is expected to remain in detention and is again at risk of being refuse bail. This stems from several factors. First, the seriousness of the case, Damian Williams, the attorney for the Southern District of New York, incidentally referred to as one of the “biggest financial frauds in american history“.
Then there is always the accused’s risk of absconding, as well as the location of certain funds which remains to be defined. The lawyer Michael Weinstein has developed this last point:
“The missing money gives prosecutors a strong case that he is at risk of absconding. I expect that if a judge grants bail, he will impose very restrictive and onerous conditions. »
On the other hand, Reuters legal sources indicate that any lawsuit regarding the case is unlikely to happen for more than a year, which is understandable given the complexity of the case. Indeed, remember that Sam Bankman-Fried is the subject of eight counts, making him risk up to a maximum of 115 years in prison.
👉 Also in the news – Democrats set to return part of Sam Bankman-Fried donations
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Source: Reuters
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I timidly discovered the world of blockchain at the end of 2018 during my quest for financial freedom. Initially invested moderately, it was only two years later that I took the gamble of betting everything on the movement that was taking shape then. I then dedicate 2021 to training myself better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I do know, I want to share with you.
Vincent Mayor
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