FTX Founder Sam Bankman-Fried , Agrees To Be Extradited to US.<br />Last week, Bankman-Fried was arrested in the Bahamas <br />after being indicted on eight counts of fraud and <br />conspiracy by federal prosecutors in New York.<br />Last week, Bankman-Fried was arrested in the Bahamas <br />after being indicted on eight counts of fraud and <br />conspiracy by federal prosecutors in New York.<br />ABC News reports that at a hearing in the Bahamas <br />on Dec. 19, Bankman-Fried ended up waiving his right <br />to challenge extradition to the U.S. for prosecution.<br />A U.S. government plane will <br />soon fly him back to America for trial.<br />The former FTX CEO also faces civil lawsuits filed by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). .<br />According to Gretchen Lowe of the CFTC, customers lost over $8 billion because of Bankman-Fried. .<br />ABC News reports that many cryptotraders are afraid they'll never get their money back.<br />FTX's new CEO, John Ray, told House members last week that FTX's conduct under Bankman-Fried was similar to "old-fashioned embezzlement.".<br />I've never seen an utter lack of record keeping. Absolutely <br />no internal controls, John Ray, FTX CEO, via statement.<br />In November, Bankman-Fried said he <br />didn't know "there was any improper use of customer funds" while speaking with ABC News' George Stephanopoulos. .<br />In November, Bankman-Fried said he <br />didn't know "there was any improper use of customer funds" while speaking with ABC News' George Stephanopoulos. .<br />I really deeply wish that I had taken like a lot more responsibility for understanding what the details were <br />of what was going on there. A lot of people got hurt, and that's on me, Sam Bankman-Fried, via interview with George Stephanopoulos
