SBF To Reverse Decision to Contest Extradition

Former FTX CEO, Sam Bankman-Fried, has reportedly reconsidered his decision to contest extraction to the United States after spending just four days in Fox Hill Prison in the Bahamas.

According to reports by Reuters, SBF will reconsider his earlier decision to contest extradition to the U.S. and is set to appear in court in the Bahamas on Monday. By agreeing to extradition, SBF would be able to appear in a United States court to face charges that have been laid against him. Bankman-Fried faces charges of conspiracy to commit wire fraud on lenders and customers, securities fraud, commodities fraud, money laundering, and conspiracy to defraud the U.S. If Bankman-Fried is charged, he faces 115 years in prison. SBF was denied bail on December 13 after prosecutors argued that he is a flight risk and should remain in custody given the enormous amounts of money involved in the matter and the unclear location of many of those funds. Bankman-Fried was remanded to prison after Chief Magistrate JoyAnn Ferguson-Pratt rejected his request to be remanded to his home while awaiting the hearing on his extradition.

SBF Not Receiving Any Special Treatment

Bankman-Fried is known for following a strict vegan diet and outlined these requirements in his unsuccessful bail application but is unable to have vegan meals delivered to him due to COVID restrictions that still forbid visitors. According to reports by Decrypt, Bahamian officials said that SBF is not received any special treatment at the government’s only prison, which has a designed capacity of 1,000 inmates, but which is frequently exceeded.

SBF is being held at Fox Hill prison which has been described as harsh due to “overcrowding poor nutrition, inadequate sanitation, and inadequate medical care,” according to a human-rights evaluation by the U.S. State Department in 2021. In his four-day stint at Fox Hill, Bankman-Fried has been housed in the prison sick bay for evaluation.

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