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Preparations for FTX co-founder Sam Bankman-Fried to be extradited to the US have hit a sudden and confusing roadblock in a Bahamian courtroom.
Bankman-Fried said in court on Monday that he was willing to waive his right to fight extradition to the US, where he faces charges including fraud. However, his local attorney, Jerome Roberts, said at the same hearing that he was unaware of the plan, causing confusion in the Nassau courtroom. Eventually, the proceedings were adjourned and Bankman-Fried was ordered back to prison.
The chaotic scene is the latest twist in the high-stakes drama that has been unfolding since Bankman-Fried was arrested last week at the request of US authorities. Although he said last week that he would fight extradition, Bankman-Fried recently indicated in private conversations that he was preparing to return to the U.S. as soon as Monday, according to a person with direct knowledge of the matter.
Bankman-Fried’s change in attitude is partly related to the expectation that he will be able to get bail in the U.S., according to the person, who requested anonymity because of the sensitivity of the matter. Play a video
Amid the confusion on Monday, the judge adjourned the proceedings and ushered out the spectators. In the cleared courtroom, Bankman-Fried and his local attorney, Roberts, appeared for a conference call. The next court date is set for February 8, although it could be set earlier.
Bankman-Fried wore a blue suit and white shirt to Monday’s trial, which was held in a courtroom packed with about 20 people, including several who appeared to work for the U.S. government and members of the press. There was confusion from the start as Roberts, Bankman-Fried’s attorney, asked for clarification on the purpose of the hearing. A short break was called shortly after the start.
Before his arrest, in numerous interviews since the FTX collapse last month, the 30-year-old denied knowingly committing fraud or breaking the law. Representatives for Bankman-Fried and the U.S. Attorney’s Office for the Southern District of New York, which is handling the case, declined to comment Monday.
Since being denied bail in a Bahamas court last week, Bankman-Fried has been in a notorious correctional facility on the outskirts of Nassau known as Fox Hill.
Read more: Bankman-Fried’s grim Bahamian prison will test extradition defiance
FTX and dozens of related companies filed for bankruptcy last month after three years of breakneck growth. At its peak, the exchange was worth $32 billion.
Authorities in both the Bahamas and the US continue to investigate Bankman-Fried’s involvement in last month’s FTX collapse. The company was based in the Bahamas.
(Updates with hearing details throughout.)
– With assistance from Ava Benny-Morrison and Jim Wyss.
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