Wednesday, October 4, 2023
Bitcoin - Altcoin News
No Result
View All Result
  • Login
No Result
View All Result
Bitcoin News
No Result
View All Result
Home News ftx

SBF Extradition To US Could Take Weeks, Here’s What Happens Next

news by news
December 13, 2022
in ftx, News, Sam Bankman-Fried
0
SBF Extradition To US Could Take Weeks, Here’s What Happens Next
0
SHARES
11
VIEWS
Share on FacebookShare on Twitter

READ ALSO

Kraken Data Shows Huge Bitcoin Influx; BTC Price To Breach $30K Soon?

FTX’s $500 Million Bet on Anthropic Pays Off Amid Google’s Interest

SBF Extradition To US Could Take More Time, Here's What Happens Next

Former FTX founder Sam Bankman-Fried was arrested by the Bahamas authorities at the request of the U.S. authorities to extradite him. However, former federal prosecutor Renato Mariotti expects the extradition will take weeks to complete.

Here’s What Happens Next After Sam Bankman-Fried Extradition

Former federal prosecutor Renato Mariotti asserts that the U.S. Department of Justice wouldn’t have proceeded with the case if they weren’t confident about extraditing Sam Bankman-Fried.

“It is inconceivable to me that the Justice Department would have charged this case unless they were confident that they could extradite him,” Renato Mariotti told CNBC on December 13.

However, he believes the extradition process could take weeks to complete. It could also take months if Sam Bankman-Fried doesn’t cooperate with the Bahamas authorities.

U.S. federal prosecutors need to secure an arrest warrant first and provide enough evidence to the Bahamas authorities before they can extradite Sam Bankman-Fried. Extradition could take time, maybe years to finish, due to the magnitude of alleged crimes.

Moreover, Mariotti thinks a trial in the U.S. “may not occur for years.” More charges will complicate the already complex case and would need more time to get in motion. “I would say late 2023 is the earliest a trial would occur.”

A Life Sentence For SBF?

Despite attending many interviews, SBF hasn’t accepted committing fraud or knowingly commingle customer funds. Lawmakers also expressed their satisfaction at Bankman-Fried’s arrest.

According to Braden Perry, a partner at law firm Kennyhertz Perry, SBF could be behind bars for years if convicted on any of the fraud charges. However, the length of any potential sentence is difficult to predict. Wire fraud cases have a minimum sentence ranging from zero to six months, but the amount remains a critical factor.

Sam Bankman-Fried could face a life sentence in federal prison. However, many white-collar defendants are “sentenced to lesser sentences than what the guidelines dictate.”

The U.S. House Financial Services Committee will hear from the newly appointed FTX CEO and restructuring expert John Jay Ray III. He confirmed that the commingling of funds had occurred between FTX and Alameda Research.

Also Read: Disgraced FTX Founder SBF Arrested, Will He Testify Before U.S. Congress?

The post SBF Extradition To US Could Take Weeks, Here’s What Happens Next appeared first on CoinGape.

Related Posts

24/7 Cryptocurrency News

Kraken Data Shows Huge Bitcoin Influx; BTC Price To Breach $30K Soon?

October 4, 2023
24/7 Cryptocurrency News

FTX’s $500 Million Bet on Anthropic Pays Off Amid Google’s Interest

October 4, 2023
24/7 Cryptocurrency News

Ripple Secures An MPI License In Singapore, Here’s Why It Matters

October 4, 2023
24/7 Cryptocurrency News

OpenSea Studio Goes Live for Creators to Easily Launch and Manage NFT Projects

October 4, 2023
24/7 Cryptocurrency News

XRP Price Jumps 5% After Court Denies SEC’s Interlocutory Motion, Next Target $1?

October 4, 2023
24/7 Cryptocurrency News

XRP Lawsuit Trial Date Locked In April 2024; Any Further Change?

October 4, 2023
Next Post
FTX Founder SBF Arrested Live Updates: SBF Nabbed Over Money Laundering, Fraud Conspiracy Charges

FTX Founder SBF Arrested Live Updates: SBF Nabbed Over Money Laundering, Fraud Conspiracy Charges

POPULAR NEWS

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

December 7, 2022
Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

December 7, 2022
Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

December 17, 2022
Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

December 7, 2022
Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

February 28, 2023

EDITOR'S PICK

XRP Lawsuit: Will SEC File For Reconsideration Of Summary Judgement?

XRP Lawsuit: Will SEC File For Reconsideration Of Summary Judgement?

December 17, 2022
Just In: JP Morgan, Wells Fargo, BofA’s New Wallet To Offer Crypto Payments?

Just In: JP Morgan, Wells Fargo, BofA’s New Wallet To Offer Crypto Payments?

January 23, 2023
Just-In: Binance CEO Addresses Misleading Data On Crypto Outflows

Just-In: Binance CEO Addresses Misleading Data On Crypto Outflows

June 10, 2023

XRP Lawyer: Binance May Get A US DOJ Sealed Indictment

September 13, 2023
Bitcoin - Altcoin News

© 2022 coingger.com

Navigate Site

  • Europe
  • Exchange
  • Elon Musk
  • ETH Price
  • crypto Tax U.S.
  • CZ
  • Crypto Miners
  • BTC Price
  • ChatGPT
  • China crypto
  • Coingecko
  • Binance Smart Chain
  • Bitcoin $100K
  • Airdrop

Follow Us

No Result
View All Result
  • Homepages
    • Home Page 1

© 2022 coingger.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In