SBF Arrives in the US to Face Criminal Charges: Report

The plane carrying the notorious founder of crypto exchange FTX – Sam Bankman-Fried – has reportedly touched down in the United States.

He is expected to appear in court in New York City later today (December 22). If convicted on all charges, SBF could go to prison for up to 115 years.

• A recent coverage revealed that Bankman-Fried has already landed in the States escorted by federal agents.
• The US authorities have accused the 30-year-old American of being the main culprit behind the gigantic failure of FTX and the subsequent multi-billion investor losses.
• He is about to face multiple charges, including conspiracy, securities fraud, and money laundering and could be slammed with a 115-year prison sentence.
• The Bahamian police detained SBF (who spent the weeks after FTX’s collapse in his house on the island) and sent him to the local correctional facility – Fox Hill – earlier this month. However, he signed his extradition papers after a one-week stay there.
• His arrest happened the same day he was about to testify before the US House Committee on Financial Services, prompting many to suggest that high-profile figures want SBF to restrain from public speaking.
• Several sources indicated that FTX’s former boss paid millions of dollars to media outlets so they could portray him as a humble hero while also donating significant sums to the leading US political parties.
• SBF has reiterated that his crypto platform was not a fraudulent scheme and that its demise was a result of individual mistakes. He also blamed a mysterious “sparring partner” for having a role in the catastrophe, with some assuming this could be Binance.
• CEO Changpeng Zhao dismissed the speculation, urging SBF to go to court and “start answering questions” instead of creating drama with misleading Twitter posts.