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

According to a report citing three individuals acquainted with the matter, the previous FTX CEO Sam Bankman-Fried (SBF) could also be extradited to the United States for questioning. After it was alleged that SBF transferred $10 billion in buyer funds to Alameda Research, the corporate’s financials present between $1 billion and $2 billion has gone lacking.

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

It’s been two weeks because the FTX collapse and 11 days because the firm filed for Chapter 11 chapter safety. Now, in accordance to some studies, officers from the U.S. and the Bahamas are speaking about extraditing SBF to the U.S. for questioning concerning his position within the firm’s fallout. Fox Business confirmed the alleged discussions on Wednesday and Bloomberg has cited three sources which have stated the extradition conversations have been reputable.

“American 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 Beyoud, and Annie Massa wrote.

4 Former FTX, Alameda Execs and Families Denied Bankruptcy Compensation

According to court filings filed this previous weekend and on Monday, FTX Group holds a money steadiness of round $1.24 billion, nonetheless, the present collectors checklist reveals that FTX owes roughly $3.1 billion in property. Furthermore, the brand new CEO of FTX, John Ray, has outlined how the beleaguered agency is exploring promoting a few of its subsidiaries. Ray famous that a few of FTX’s licensed subsidiaries have “solvent balance sheets, responsible management, and valuable franchises.”

In one other court document, the bankrupt firm has pressured that former FTX and Alameda executives SBF, Caroline Ellison, Gary Wang, and Nishad Singh won’t see any funds from the Chapter 11 proceedings. “No amounts will be paid under the authority requested by this motion to any of the following persons or any person known by the debtors to have a familial relationship to any of Samuel Bankman-Fried, Gary Wang, Nishad Singh, or Caroline Ellison,” the submitting highlights.

What do you consider the potential of SBF being extradited to the U.S. for questioning? Let us know what you consider this topic within the feedback part under.