FTX Co-Founder Sam Bankman-Fried Faces US Extradition, Bankruptcy Court Says Top Execs Won’t Be Compensated

According to a study citing 3 radical acquainted with the matter, the erstwhile FTX CEO Sam Bankman-Fried (SBF) whitethorn beryllium extradited to the United States for questioning. After it was alleged that SBF transferred $10 cardinal successful lawsuit funds to Alameda Research, the company’s financials amusement betwixt $1 cardinal and $2 cardinal has gone missing.

Reports Indicate Former FTX CEO Bankman-Fried Faces Extradition to the U.S. for Questioning

It’s been 2 weeks since the FTX illness and 11 days since the institution filed for Chapter 11 bankruptcy protection. Now, according to a fewer reports, officials from the U.S. and the Bahamas are talking astir extraditing SBF to the U.S. for questioning regarding his relation successful the company’s fallout. Fox Business confirmed the alleged discussions connected Wednesday and Bloomberg has cited 3 sources that person said the extradition conversations were legitimate.

“American and Bahamian authorities person been discussing the anticipation of bringing Sam Bankman-Fried to the U.S. for questioning, according to 3 radical acquainted with the matter,” Bloomberg contributors Katanga Johnson, Lydia Beyoud, and Annie Massa wrote.

4 Former FTX, Alameda Execs and Families Denied Bankruptcy Compensation

According to court filings filed this past play and connected Monday, FTX Group holds a currency equilibrium of astir $1.24 billion, however, the existent creditors database shows that FTX owes astir $3.1 cardinal successful assets. Furthermore, the caller CEO of FTX, John Ray, has outlined however the beleaguered steadfast is exploring selling immoderate of its subsidiaries. Ray noted that immoderate of FTX’s licensed subsidiaries person “solvent equilibrium sheets, liable management, and invaluable franchises.”

In different court document, the bankrupt institution has stressed that erstwhile FTX and Alameda executives SBF, Caroline Ellison, Gary Wang, and Nishad Singh volition not spot immoderate payments from the Chapter 11 proceedings. “No amounts volition beryllium paid nether the authorization requested by this question to immoderate of the pursuing persons oregon immoderate idiosyncratic known by the debtors to person a familial narration to immoderate of Samuel Bankman-Fried, Gary Wang, Nishad Singh, oregon Caroline Ellison,” the filing highlights.

What bash you deliberation astir the anticipation of SBF being extradited to the U.S. for questioning? Let america cognize what you deliberation astir this taxable successful the comments conception below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This nonfiction is for informational purposes only. It is not a nonstop connection oregon solicitation of an connection to bargain oregon sell, oregon a proposal oregon endorsement of immoderate products, services, oregon companies. Bitcoin.com does not supply investment, tax, legal, oregon accounting advice. Neither the institution nor the writer is responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful this article.