Sam Bankman-Fried, the founding father of the crypto alternate FTX, will now be heading to the USA to face legal prices associated to the collapse of his cryptocurrency alternate, the Wall Road Journal reviews. 

Throughout courtroom proceedings that happened on Wednesday, the 30-year-old’s authorized consultant learn out an affidavit through which it was famous that Bankman-Fried wished to make clients complete.

Bankman-Fried has maintained his innocence after stating he had no concept what had occurred behind the scenes at Alameda Analysis, his crypto hedge fund linked to the lacking buyer funds. 

There was some confusion concerning plans for extradition when a conflict between Bankman-Fried’s native and US authorized groups occurred over the weekend. Earlier than in the end consenting Monday after a convention name with each events concerned, his Bahamas lawyer refused to reply any questions.

Bankman-Fried has been slapped with a litany of prices, which embody fraud, conspiracy, and cash laundering offenses. Bankman-Fried might face life in jail if discovered responsible of all prices. 

Based on CNN, Sam Bankman-Fried’s attorneys and federal prosecutors have taken motion to succeed in an association regarding the crypto mogul’s bail. It will seemingly assist him forestall state detention. 

Whereas being on the helm of FTX, Bankman-Fried leveraged buyer deposits to bail out the sister buying and selling agency. John Ray III, the present CEO of FTX and Alameda, claimed that FTX was an “old school” embezzlement scheme.