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24h Vol: $95,467,003,561
Seeking Alpha 2022-12-22 17:39:11

Sam Bankman-Fried expected to appear in U.S. court in less than an hour- report

Sam Bankman-Fried expected to appear in U.S. court in less than an hour- report
After being extradited to the U.S. from The Bahamas to face criminal charges, disgraced FTX ( FTT-USD ) co-founder Sam Bankman-Fried is now expected to appear in Manhattan federal courtroom at around 1:00 p.m. ET, Reuters reported Thursday, citing a court official. Various regulators, including the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission, have charged the 30-year-old for allegedly defrauding investors and customers. Bankman-Fried, who has confirmed his risk management failures, will likely be asked by the judge to enter a plea, Reuters noted. The judge could also decide whether to release him on bail based on certain conditions. Earlier this week, SBF's lawyers were reportedly discussing with federal regulators about granting him bail . On Wednesday evening, Bankman-Fried departed from The Bahamas in FBI custody. Later in the night, his associates Ellison and Wang plead guilty to federal fraud charges .
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