Sam Bankman-Fried (SBF) is currently remanded in Fox Hill jail in the Bahamas. After signing the extradition papers, a hearing is set for Wednesday. Authorities are expected to fly SBF to the US immediately after the Wednesday hearing.

Founder and former FTX CEO, Sam Bankman-Fried, has finally accepted extradition to the United States. According to reports from ABC News, SBF, who is currently held in Fox Hill Jail in the Bahamas has signed extradition papers.

Although it is not clear why SBF agreed to the extradition, there are reports that he would be seeking bail in the US after a Bahamas judge refused to grant him bail citing flight risk.

 The extradition hearing is set for Wednesday in Nassau and the development has already been confirmed by Bahamas Acting Commissioner of Corrections Doan Cleare. The commissioner said that SBF will sign in a separate set of papers to finalize his waiver of rights in fighting the extradition.

On Wednesday the Bahamas authorities are expected to escort SBF from Fox Hill Jail to court after which the US authorities will take over after the hearing.

The Federal authorities are expecting to fly back Sam Bankman-Fried back to the US immediately after Wednesday’s hearing. As reported by Bloomberg, the disgraced FTX founder will be accompanied to the US from the Bahamas by FBI agents in a non-commercial aircraft.

A source familiar with the development said that the plane that is expected to ferry SBF will depart from a private airport in the Bahamas.

The post SBF signs US extradition papers, expected in the US on Wednesday appeared first on CoinJournal.

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