The plane carrying Sam Bankman-Fried from the Bahamas to the United States left on Wednesday night, according to sources.
Sam Bankman-Fried has been extradited to the United States to face trial on charges of financial fraud and conspiracy, which he is accused of following the collapse of his company FTX.
According to Reuters and other media, FTX founder left the Bahamas for the United States, where he will face trial in a Manhattan court. Bankman-Fried agreed to be extradited from the Bahamas a week after his arrest by local authorities, the British news agency reported.
Bahamian police took action against Bankman-Fried on December 12 after receiving a sealed warrant from New York Southern District Attorney Damian Williams requesting the company's founder and former CEO be taken into custody.
Bankman-Fried was charged with eight counts, including fraud, financial fraud and conspiracy, for using much of FTX client funds for personal investments and financing. The New York federal prosecutor cited that Bankman-Fried illegally used his clients' funds to purchase luxury real estate, make multimillion-dollar political donations and more.
Bankman-Fried extradited: Will he plead guilty? Will he be released on bail?
Reuters reported that Bankman-Fried could appear in a Manhattan courtroom as early as Thursday. The FTX founder is expected to plead guilty to the charges, which also include wire fraud and money laundering, the agency said. The agency also said U.S. authorities could grant Bankman-Fried bail, subject to certain conditions.
Bankman-Fried's defense attorney is also asking authorities to apply the "specialty rule" to the former CEO, so that he can be tried only on the charges for which he was extradited from the Bahamas.
The Sam Bankman-Fried case comes as two top executives at FTX and Alameda Research, also founded by Bankman-Fried, plead guilty to their charges.
Caroline Ellison pleads guilty to fraud
Former Alameda Research CEO and Bankman-Fried's partner, Caroline Ellison has pleaded guilty to charges related to the debacle of FTX and its investment arm.
New York federal prosecutor William confirmed that the former CEO of Alameda has begun cooperating with authorities. Although William did not detail what charges were filed against Ellison, he highlighted that the former CEO of Alameda manipulated the price of FTX's FTT token. For his part, FTX co-founder Gary Wang is also taking responsibility for the company's collapse cryptocurrency and has pleaded guilty to multiple charges.
SEC Deputy Director of Enforcement Sanjay Wadhwa said Bankman-Fried, Ellison and Wang all actively participated in the company's fraudulent scheme, including concealing material information from FTX investors and manipulating the price of FTT.
Continue reading: Goldman Sachs perceives the FTX crisis as an opportunity to invest in the crypto sector
