Fallen crypto mogul Sam Bankman-Fried left the Bahamas on Wednesday night and landed in New York after he was transferred to FBI custody.
Bankman-Fried, who is being prosecuted in the Southern District of New York, faces fraud and other criminal charges related to the sudden implosion of his billion-dollar empire and crypto exchange FTX.
The alleged fraudster will appear in front of a federal judge “as soon as possible,” Manhattan US Attorney Damian Williams said in a Wednesday night statement.
Bankman-Fried flew out of Nassau’s Odyssey Airport at about 7 p.m. The former billionaire was filmed by local media as a long police motorcade escorted him to a private runway.
He landed at Westchester County Airport shortly before 10:30 p.m.
Earlier Wednesday, the 30-year-old appeared in the Magistrate Court building in Nassau, where he confirmed to the judge that he is waiving his right to a lengthy extradition hearing.
Sam Bankman-Fried is walked in handcuffs to a plane during his extradition to the United States at Lynden Pindling international airport in Nassau, Bahamas Dec. 21, 2022. REUTERS
Sam Bankman-Fried departed from Odyssey Airport in Nassau for New York on Wednesday. Getty ImagesHe said he consented to extradition because he wants “to make the relevant customers whole,” according to court papers — reversing his initial decision to fight the process.
The disgraced crypto king was arrested last week by law enforcement in the Bahamas where he had been living at the time after he was indicted in the Southern District of New York.
If he is not released on bail in New York, he is likely to be locked up in Brooklyn’s notorious Metropolitan Detention Center as he awaits trial.
Prosecutors allege Bankman-Fried hid FTX’s financial problems from the public and defrauded investors out of over $1.8 billion.
The Securities and Exchange Commission accused Bankman-Fried of illegally using investors’ money to fund his Alameda Research hedge fund and buy real estate on behalf of himself and his family. He’s also charged with wire fraud, money laundering and campaign finance charges.
US Attorney Damian Williams blasted Bankman-Fried’s alleged crimes as among “the biggest financial frauds in American history.”
Bankman-Fried left the Magistrate Court building in Nassau carrying a trash bag holding his personal belongings, surrounded by guards with assault weapons, and entered a vehicle, according to Reuters. REUTERS
Sam Bankman-Fried arrives at Westchester County Airport after being extradited to the United States on a private jet from the Bahamas in White Plains, NY on Dec. 21, 2022. Christopher SadowskiIf convicted, he faces a maximum of 115 years in prison.
FTX had been valued at up to $32 billion before its sudden collapse on Nov. 11 when Bankman-Fried stepped down as CEO and the firm said it was bankrupt.
The ex-CEO has admitted to multiple missteps, but insisted he did not commit any crimes.
Since his Dec. 12 arrest, Bankman-Fried was locked up in the reportedly rat-infested Fox Hill Prison in the Bahamas, which was chastised by the US State Department last year for being overcrowded and lacking plumbing.
Bankman-Fried, however, reportedly enjoyed special perks such as air-conditioning and cable TV during his short stint at the prison.
With Post wires
