Reuters: SBF appeared in court in the Bahamas on Monday, no longer opposing extradition to the United States
Reuters reported that according to sources, SBF is expected to appear in court in the Bahamas on Monday and is no longer opposing extradition to the United States. If returned to the U.S., he will face multiple charges in U.S. court including wire fraud, money laundering, and violations of campaign finance regulations.
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Defense attorney Zachary Margulis-Ohnuma pointed out that after being extradited back to the U.S., SBF may be temporarily detained at the Metropolitan Detention Center in Brooklyn and will need to hold a court hearing within 48 hours of arriving in the United States, where a judge will decide whether to grant bail.
Former federal prosecutor Michael Weinstein believes that due to the substantial amount involved in the case, prosecutors have sufficient grounds to consider SBF a flight risk, and if bail is granted, it will come with very strict conditions.
It is currently unclear what prompted SBF to change their stance and no longer oppose extradition.
Earlier reports indicated that Bahamian authorities arrested SBF on 12/12 and rejected a $250,000 bail request from the lawyers. SBF was subsequently held at Fox Hill Prison until the extradition hearing on 2/8 next year.