Sam Bankman-Fried has instructed a court docket within the Bahamas that he has agreed to be extradited to the US to face legal expenses associated to the collapse of cryptocurrency alternate FTX.

The former FTX CEO left a Justice of the Peace’s court docket and headed to Odyssey Aviation to return to the United States, in accordance with Bahamian information organisation Our News.

Bahamian authorities arrested Bankman-Fried final week on the request of the US authorities.

Prosecutors allege he performed a central position within the fast collapse of FTX and hid its issues from the general public and traders.

The Securities and Exchange Commission stated Bankman-Fried illegally used traders’ cash to purchase property on behalf of himself and his household.

The 30-year-old may probably spend the remainder of his life in jail.

Bankman-Fried was denied bail on Friday after a Bahamian choose dominated that he posed a flight threat.

The founder and former CEO of FTX, as soon as value tens of billions of {dollars} on paper, is being held within the Bahamas’ Fox Hill jail, which has been has been cited by human rights activists as having poor sanitation and as being infested with rats and bugs.

Once he’s again within the US, Bankman-Fried’s lawyer will be capable of request that he be launched on bail.