tags in this story
Former FTX CEO Sam Bankman-Fried (SBF) may be extradited to the U.S. for questioning, according to three sources familiar with the matter. After SBF allegedly transferred $10 billion in client funds to Alameda Research, the company’s financials show that between $1 billion and $2 billion disappeared.
Ex-FTX CEO Bankman-Fried Faces Extradition to US for Questioning, Report Suggests
It’s been two weeks since FTX crashed and 11 days since the company filed for Chapter 11 bankruptcy. Now, according to some reports, officials in the United States and the Bahamas are discussing the extradition of SBF to the United States to interrogate him for his role in the company’s fallout. Fox Business confirmed the alleged discussions on Wednesday, and Bloomberg, citing three sources, said the extradition talks were legitimate.
“U.S. and Bahamian authorities have been discussing the possibility of bringing Sam Bankman-Fried to the U.S. for questioning, according to three people familiar with the matter,” Bloomberg contributors Katanga Johnson, Lydia Bayyod and Anne Massa wrote.
4 Former FTX, Alameda execs and family members denied bankruptcy compensation
According to court documents filed over the weekend and Monday, FTX Group holds a cash balance of about $1.24 billion, but the current list of creditors shows that FTX owes about $3.1 billion in assets. Additionally, FTX’s new CEO, John Ray, outlined how the struggling company is exploring the sale of some of its subsidiaries. Ray noted that some of FTX’s licensed subsidiaries have “solvent balance sheets, responsible management, and valuable franchises.”
In a separate court filing, the bankrupt company emphasized that former FTX and Alameda executives SBF, Caroline Ellison, Gary Wang and Nishad Singh will not receive any payments from the Chapter 11 proceedings. “Under the authorization requested by this motion, no payments will be made to any of the following persons or persons known to the debtor to be related to Samuel Bankman-Fried, Gary Wang, Nishad Singh, or Caroline Ellison,” the filing highlights.
What do you think about the possibility of SBF being extradited to the US for questioning? Let us know your thoughts on this topic in the comments section below.
image credits: Shutterstock, Pixabay, Wiki Commons
disclaimer: This article is for reference only. It is not a direct offer or solicitation of an offer to buy or sell, nor is it a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the Company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned herein.