Sam Bankman-Fried Set to be Extradited to the U.S.

On Wednesday, Sam Bankman-Fried’s lawyer announced that he consented to be extradition to the United States. There, his lawyers will continue to work with prosecutors on a bail arrangement. Something of which, he was denied the Bahamas due to a “flight risk.”

CNN reported that US embassy representatives are working to extradite Bankman-Fried as soon as Bahamian officials turn him over to U.S. custody. 

For the last week and a half, Bankman-Fried has been held in a prison in the Bahamas that U.S. officials claim is “overcrowded, dirty and lacking medical care. Its crowded cells often lack mattresses and are “infested with rats, maggots, and insects,” per CNN. 

Bank-Fried is being hit with a total of eight charges by federal prosecutors and if convicted of them all, he could face life in prison. Prosecutors claim he orchestrated “one of the biggest financial frauds in American history.”