Former FTX CEO Sam Bankman-Fried (SBF) could be extradited to the United States for questioning, according to a report citing three people familiar with the matter. After it was alleged that SBF transferred $10 billion in client funds to Alameda Research, the company’s financial statements show that between $1 billion and $2 billion went missing.
Reports indicate that former FTX CEO Bankman-Fried is at risk of being extradited to the United States for questioning
It has been two weeks since FTX’s collapse and 11 days since the company filed for Chapter 11 bankruptcy protection. Now, according to a few reports, officials from the United States and the Bahamas are talking about extraditing SBF to the United States to question him about his role in the company’s fallout. fox business confirmed Wednesday’s purported talks and Bloomberg has cited three sources who said the extradition conversations were legitimate.
“U.S. and Bahamian authorities have discussed bringing Sam Bankman-Fried to the United States for questioning, according to three people familiar with the matter,” Bloomberg contributors Katanga Johnson, Lydia Beyoud and Annie Massa wrote.
4 Former FTX, Alameda Executives & Families Denied Bankruptcy Compensation
According court documents filed last weekend and on Monday, FTX Group holds a cash balance of approximately $1.24 billion, however, the current list of creditors shows that FTX owes approximately $3.1 billion in assets. Additionally, new FTX CEO John Ray has describe how the beleaguered company plans to sell some of its subsidiaries. Ray noted that some of FTX’s licensed subsidiaries have “solvent balance sheets, responsible management, and valuable franchises.”
In other court documentthe bankrupt company pointed out that former FTX and Alameda SBF executives Caroline Ellison, Gary Wang and Nishad Singh will not see any payments from the Chapter 11 proceedings. “No amounts will be paid under the authorization requested by this motion from any of the following persons or any person known by the debtors to have a family relationship with Samuel Bankman-Fried, Gary Wang, Nishad Singh or Caroline Ellison”, the highlights of the filing.
What do you think of the possibility of SBF being extradited to the United States for questioning? Let us know what you think about this topic in the comments section below.
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