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Sam Bankman-Fried, who faces US charges following the collapse of his cryptocurrency firm FTX, is ready to waive his right to refuse extradition to the US, he said after a chaotic court hearing on Monday. It didn’t go according to plan.

An attorney expected Bankman-Fried to return to court sometime this week to make the decision official, at which time he will be moved to New York to face the federal charges.

Bankman-Fried, 30, was arrested last week in the Bahamas after federal prosecutors in New York filed eight charges, including wire fraud and conspiracy.

At a court hearing last week, Bankman-Fried refused to waive his right to contest extradition to the United States. However, multiple sources familiar with the case told ABC News ahead of Monday’s hearing that Bankman-Fried has changed her position and is willing to waive extradition. , creating a US detention order

At Monday’s hearing, however, Bankman-Fried did not waive his right to refuse extradition, as expected, but instead asked to see a copy of the US indictment and to speak to his lawyer in New York. The judge approved the telephone conversation with the Bahamian in the presence of his lawyer.

Ultimately, Bankman-Fried agreed to waive extradition and clear her way to prosecution in the United States.

Bankman-Fried was held in the medical unit of the island’s Fox Hill prison after his bail application was denied when a judge ruled he posed too much of a risk.

Sam Bankman-Fried, founder and former CEO of cryptocurrency exchange FTX, is escorted out of the Magistrate’s Court building in Nassau, Bahamas on December 19, 2022.

Dante Carrer / Reuters

A US government plane is awaiting Bankman-Fried’s return from the Bahamas, where he lived in a $30 million penthouse while running FTX until it collapsed in November in a $32 billion bankruptcy.

In addition to the criminal charges, Bankman-Fried faces civil lawsuits from the Securities and Exchange Commission and the Commodity Futures Trading Commission.

There are more than $8 billion in customer losses, said Gretchen Lowe of the Commodity Futures Trading Commission, a federal agency.

PHOTO:  FILE - Samuel Bankman-Fried, founder and CEO of FTX, testifies before a Senate committee in Washington on February 9, 2022.

FTX founder and CEO Samuel Bankman-Fried testifies before a Senate committee on Capitol Hill in Washington, Feb. 9, 2022.

Saul Loeb/AFP via Getty Images, FILE

Some crypto traders who invested their savings in the platform fear that they may never get their money back.

FTX’s new CEO, John Wray, who oversaw Enron’s breakup, told members of the House of Representatives last week that FTX lacked corporate control to the extent he had ever seen, describing the company’s behavior as “outdated embezzlement.”

“I’ve never seen a complete lack of record keeping,” Ray said. “Absolutely no internal control.”

Bankman-Fried denied knowing about the “improper use of client funds” in an interview with ABC News’ George Stephanopoulos in November.

“I really, really wish I had taken more responsibility to understand the details of what was going on there,” Bankman-Fried told Stephanopoulos. “A lot of people got hurt and it’s on me.”

ABC News’ Bill Hutchinson contributed to this report.


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