115 Years in Prison, what FTX founder Sam Bankman-Fried faces after NY Court Appearance

By Shanieka Smith

Staff Writer

#USA, December 26, 2022 – The cryptocurrency entrepreneur Sam Bankman-Fried has been extradited to the United States on Wednesday after Bahamas’ Foreign Minister signed a warrant of surrender.

Bankman-Fried has also confirmed his decision to leave the Bahamas. In court, he said, “I do wish to waive my right to formal extradition proceedings.” As such, he was flown to New York on Wednesday.

His initial U.S. court appearance was on Thursday afternoon on charges that he fleeced investors on his FTX trading platform out of $1.8 billion.

During Bankman-Fried’s flight to the U.S., Manhattan US Attorney, Damian Williams announced that two of his associates, his ex-girlfriend and co-founder had also been charged in connection with the alleged scam; they have also secretly pleaded guilty.

Williams said the charges filed against them are “in connection with their roles in the frauds that contributed to FTX’s collapse,” Williams said.

According to prosecutors, FTX co-founder, Gary Wang and former CEO of Alameda Research and Bankman-Fried’s ex-girlfriend, Carolyn Ellison, are guilty of wire, securities, and commodities fraud.

Bankman Fried has been charged with wire fraud, securities fraud, conspiracy, money laundering and campaign finance violations that could put him behind bars for 115 years.