Cryptocurrency tycoon Sam Bankman-Fried consents to extradition to US from The Bahamas
Sam Bankman-Fried has consented to be extradited to the US from The Bahamas.
The FTX cryptocurrency exchange founder’s lawyer read an affidavit to a court in Nassau on Wednesday, confirming his client was willing to be flown to New York.
As a result, the 30-year-old tycoon could be flown out as early as Wednesday afternoon local time to face an array of fraud charges.
Bankman-Fried decided to agree to extradition in part out of a “desire to make the relevant customers whole,” according to the affidavit, which is dated 20 December.
Dressed in a suit, Bankman-Fried took to the witness box and told the judge: “Yes, I do wish to waive my right to such formal extradition proceedings.”
His lawyer told the judge that his client was “anxious to leave”.
The hearing was adjourned after the statements.
Bankman-Fried appeared in court in Nassau on Wednesday and did not contest his extradition
Officials with the FBI and the United States Marshals Service – which handles transportation of individuals in US custody – have already arrived in the Bahamian capital according to a person familiar with the matter.
It is currently unclear when Bankman-Fried will depart The Bahamas for New York.
Federal prosecutors in Manhattan last week charged the cryptocurrency mogul with stealing billions of dollars in FTX customer assets to plug losses at his hedge fund, Alameda Research, in what US Attorney Damian Williams called “one of the biggest financial frauds in American history”.
Bankman-Fried was arrested on a US extradition request last week in The Bahamas, where he lives and FTX is based.
He initially said he would contest extradition, but it was reported over the weekend that he would reverse that decision.
Bankman-Fried has acknowledged risk-management failures at FTX but said he does not believe he has criminal liability.
His personal wealth is thought to have swelled to $20bn (£16.2bn) at the exchange’s peak, but has since reportedly shrunk to $100,000 (£83,000).
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How FTX founder Sam Bankman-Fried went from£21bn empire to being charged with fraud
Wednesday’s hearing followed a confusing sequence of events this week that left the status of Bankman-Fried’s expected extradition unclear.
On Monday, following the news reports he had agreed to be extradited, Bankman-Fried arrived at the courthouse in a black van marked “Corrections” wearing a blue suit jacket and white shirt.
At the hearing, his local defence lawyer, Jerone Roberts, said he was not informed of the purpose of the proceedings.
After a brief recess, Mr Roberts said his client had seen an affidavit outlining the charges against him but wanted access to the full indictment before consenting to extradition.
The proceedings were then adjourned. They had been expected to resume on Tuesday morning, but Bankman-Fried’s legal papers were not filed in time.
Bankman-Fried rode a crypto boom to become a billionaire several times over and an influential US political donor, before FTX’s crash wiped out his wealth and tarnished his reputation.
The collapse was driven by a wave of customer withdrawals amid concerns over co-mingling of funds with Alameda.
The cryptoexchange declared bankruptcy on 11 November with Bankman-Fried stepping down as CEO the same day.
When they made America truly great its backbone was forged in Bethlehem, Pennsylvania.
The steel for 80% of Manhattan’s skyscrapers, many of the US Navy’s battleships, and even the entire San Francisco Golden Gate Bridge, all came from its blast furnaces in the hills north of Philadelphia.
Its mammoth steel plants stretched for almost five miles.
They lie empty and unused, now a huge open-air museum for guided tours led by former plant workers like Don Young.
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The 87-year-old has been married to Barbara for 20 years, but their marriage has been tested in recent months, as have many others in the most divisive presidential election in living memory.
Both Republicans, she is for Donald Trump, he is emphatically not.
Mr Trump, I pointed out, claimed he could make America great again. Did he believe him?
“No, I do not believe him. My wife does,” he said. “I’ve seen the rise of dictators in history.
“As much as I am a studier of the history of industry, I’m also a studier of the history of politics and world politics. And, you know, Mr Trump’s campaign literally, literally mirrors that of Adolf Hitler.”
His wife sees Mr Trump completely differently: “I absolutely do not agree with that. And I’m sorry to hear my husband say this. And I actually believe we have seen what President Trump can do and how our country was when he was in office.”
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Mr Young now offers tours of the former steel plants
Trump ‘is the future for America’, Ms Young says
Their town has recovered from the collapse of Bethlehem Steel. But it’s the state of America that worries Ms Young now.
And it is Mr Trump who can save it, she said.
“He is the future for America,” she said. “I don’t want to see people coming over our border. We’ve had women murdered and raped by illegal immigrants. Who wants their children dead as a result of fentanyl, which comes over the border?”
Trump is ‘going to run America into the ground’
Her husband’s view is diametrically opposed.
“I think he’s going to run America into the ground because he does not observe any of the Democratic norms that his predecessors have,” he said.
“He didn’t observe them when he was in office. And so that’s just a window on what will happen in this coming term.”
Pennsylvania will likely determine presidential election result
Their marriage mirrors the state of play in the place they live in.
Pennsylvania is on a knife edge, say the polls, split right down the middle and the outcome here will likely determine the result on election day in this most important of swing states.
They can agree on one thing. They cannot wait for this election to be over.
Mr Young said their marriage can survive a Trump victory. Ms Young thinks so too.
The closest, nastiest, most divisive presidential election in living memory will be over soon. The bitterness and division that has plagued it less so in this deeply polarised country.
The Los Angeles Dodgers have won baseball’s World Series for the second time in five years but the celebrations were marred by looting and violence.
The Dodgers took the title by beating the New York Yankees 4-1 in the best-of-seven final in New York on Wednesday night, US time.
But soon after the match ended and jubilant Dodgers fans spilled on to the streets to celebrate, there were reports of a bus being set on fire, shops being looted and fireworks thrown at police in scenes of “absolute chaos” in downtown LA.
Los Angeles Dodgers players celebrate winning baseball’s World Series. Pic: AP
At around 10.45pm, the Los Angeles Police Department (LAPD) said it received reports of “looting at several stores in the area of 8th and Broadway”.
Ordering people to “leave the area immediately” on X, the force reposted a video of looters raiding a Nike store where a door had been removed so thieves could get in.
A Dodgers fan celebrates in Los Angeles. Pic: Reuters
Several dispersal orders were issued for different locations in the city, including in streets close to the Dodger Stadium in the Elysian Park area.
A bus was set on fire as part of the disorder.
Eyewitness and LA resident Taylor Rosa, 27, told Sky’s US partner network NBC News it was “absolute chaos”, as people “got out of control and started looting and jumping on top of a bus”.
Among the comments on Instagram were “damn embarrassment” and “they act like the Dodgers lost”.
Multiple arrests were made throughout the night in Echo Park and the downtown area, according to the Los Angeles Scanner account on X.
The LAPD later spoke of a “hostile crowd” and that “various projectiles”, including rocks and bottles, were being thrown at officers.
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Meanwhile, two Yankees fans missed the end of the series after they were banned for interfering with play during the fourth match, the New York team’s only win.
They grappled with the Dodgers’s Mookie Betts as he tried to catch a shot by the fence at the Yankee Stadium on Tuesday night.
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As Betts leapt at the wall and caught the ball, one fan grabbed his glove with both hands and wrenched the ball out, as another grabbed Betts’s other hand.
They were thrown out of the game and banned from the next one.
The Dodgers beat the Yankees 7-6 in game five. Pic: AP
Dodgers star Shohei Ohtani with the trophy. Pic: AP
The last time the Dodgers won the title, in 2020, the season was shortened by the COVID pandemic, which prevented them from staging a victory parade.
This year’s parade is to take place on Friday.
Elon Musk has been summoned to an emergency court hearing on Thursday over the $1m prizes he has been awarding registered voters in swing states.
The Tesla and X chief executive has been ordered by a judge in Philadelphia, Pennsylvania to address a civil case by the city’s top prosecutor to stop Mr Musk and his political action committee, America PAC, from giving the cash away.
The suit accuses Mr Musk of operating an illegal lottery and trying to influence voters in next week’s presidential election between Kamala Harris and Donald Trump.
Mr Musk and his PAC are backing Mr Trump, the Republican nominee.
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The controversial billionaire promised to give $1m (£772,000) each day to resgistered voters in swing states who have signed his online free speech and gun rights petition.
The first $1m was awarded to a man named John Dreher during a campaign event in Pennsylvania on 19 October.
Both Mr Trump and Ms Harris have made repeated visits to the state as they fight for its 19 electoral votes.
Mr Musk is the world’s richest person and is worth $274bn (£210bn), according to Forbes, so the approximate $17m (£13m) he’s vowed to give away is a tiny fraction of his wealth.
The 53-year-old had donated $75m (£58m) to American PAC in the period up to mid-October.
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Documents filed by Philadelphia’s district attorney Larry Krasner also revealed that the lawsuit against Mr Musk had “triggered an avalanche of [social media] posts from Musk’s followers,” many of whom “made antisemitic attacks on Krasner”.
The attorney asked for enhanced security for the hearing, which was originally scheduled for Friday, after users on X had published Mr Krasner’s home address.
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‘Tell him I’ll register, $1 million!’
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America PAC is one of several major political action committees in the US.
Such groups can raise and spend unlimited amounts of money in support of political candidates, on the condition that they do not coordinate with their campaigns or give money to them.
Mr Trump has said he will give Mr Musk a government job if he becomes president again.
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