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The CEO of FTX will travel to the United States to face charges.

The CEO of FTX will travel to the United States to face charges.

Former FTX CEO Sam Bankman-Fried is on an aircraft going from the Bahamas to the United States, where he faces fraud accusations.
The 30-year-old man is being extradited on accusations of conducting “one of the worst financial scams in US history,” according to US investigators.
Mr. Bankman-Fried, who denies the claims, is scheduled to appear in court in New York on Thursday.
Two of his former associates have pled guilty to crimes linked to the case.
Gary Wang, co-founder of FTX, and Caroline Ellison, former CEO of cryptocurrency trading business Alameda Research, have both been charged with “roles in the frauds that lead to FTX’s collapse,” according to Damian Williams, attorney for the Southern District of New York.
They are both now cooperating with the Southern District of New York, he stated in a video published alongside court records.
Mr. Wang’s counsel stated that his client accepted responsibility for his acts and took his duty as a cooperating witness seriously.
The US Securities and Exchange Commission has filed separate allegations against Ms. Ellison and Mr. Wang (SEC).
Mr. Bankman-Fried was charged with “orchestrating a plot to defraud equity investors in FTX” last week.
The FTX founder was also accused of illegally donating “tens of millions” in ill-gotten earnings to Democrats and Republicans alike.

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