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FTX founder San Bankman-Fried returns to New York to stand trial after being extradited from the Bahamas

-The creator’s return occurred when two of his partners pleaded guilty to electronic fraud.


The founder of the FTX cryptocurrency platform, Sam Bankman-Fried, arrived in New York last Wednesday night to be tried on the multiple charges attributed to him by the US authorities following the bankruptcy of his company.

Sam Bankman-Fried landed in the United States after being deported from the Bahamas, where he was detained, and has agreed to be sent back to New York to stand trial.

According to the Fox network, the alleged fraudster was seen walking away from the runway, after arriving at a New York airport, surrounded by law enforcement officers, before he was placed in a van and left escorted by a caravan of vehicles.

Bankman-Fried said in the Bahamas that he accepted his extradition in part because of his “desire to compensate customers affected” by the bankruptcy of FTX, which declared bankruptcy on November 11 after a rapid collapse after many users rushed to leave. Withdraw their funds amid information that questioned the company’s solvency.

Bankman-Fried’s legal team reported last Monday that their client decided to waive his right to challenge extradition, meaning he will be tried in the United States, where he is charged with eight counts by the Southern District of New York Attorney’s Office.

Among the crimes charged are electronic fraud, money laundering, and violation of political campaign finance laws.

Partners found guilty

The return of the creator of FTX occurred just as two of his partners pleaded guilty to wire fraud, among other crimes, Manhattan federal prosecutor Damian Williams announced last Wednesday.

The former CEO of Alameda Research, a company founded by Bankman-Fried that was FTX’s investment arm, Carolyn Ellison, and FTX co-founder Gary Wang, pleaded guilty to criminal charges “in connection with their role in the fraud.” “That contributed to the collapse” of the company, Williams said in a video.

Williams added that the two are collaborating with his investigation into “the huge fraud project” that the cryptocurrency guru allegedly led, which contributed to the company’s spectacular collapse, which has wreaked havoc on the sector.

The U.S. Securities and Exchange Commission (SEC) alleges that Bankman-Fried organized a years-long fraudulent scheme to conceal the diversion of customer funds to Alameda Research from FTX investors.

For his part, the prosecutor assured that the investigation “is advancing rapidly. “

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