NASSAU, BAHAMAS — An injunction has been granted by a Supreme Court judge, preventing the government from consenting to a request by the United States to try FTX founder, Sam Bankman-Fried, for additional offenses not covered under the original indictment that facilitated his extradition.
Justice Loren Klein ruled that an injunction should be in place, restraining Foreign Affairs Minister Fred Mitchell and Attorney General Ryan Pinder, until the hearing and determination of Bankman-Fried’s application for judicial review.
The judge also directed the parties to take steps to have the application for judicial review heard and determined in an expedited manner.
Last month, US federal prosecutors in Manhattan proposed dropping five charges of bribery, bank fraud, and conspiracy against Bankman-Fried if The Bahamas did not agree to them. These charges were not included in Bankman-Fried’s initial indictment in December.
Bankman-Fried’s lawyers argued that charges related to US campaign finance law breaches, violations of the Foreign Corrupt Practices Act, bank fraud, and operating an unlicensed money transmission business should be dismissed as they contravened The Bahamas’ Extradition Act and treaty.
According to his lawyers, Bankman-Fried should only be tried in the United States for the offenses for which extradition was granted, primarily conspiracy charges.
Justice Klien acknowledged that the US had issued two superseding indictments against SBF, introducing additional offenses not covered in the original indictment. “In this regard, they have sought the post-surrender consent of The Bahamas, as is required under the Extradition Treaty and Act, to try him on the new offenses,” Justice Klein noted.
Justice Klein also determined that Bankman-Fried had raised “arguable issues with a reasonable prospect of success.”
After spending a week in custody at the Bahamas Department of Correctional Services (BDCS), Bankman-Fried, 31, was extradited to the United States in December. He is facing charges, including wire fraud, securities fraud, and money laundering, in relation to the collapse of his cryptocurrency exchange. Federal prosecutors have accused Bankman-Fried of misappropriating billions of dollars in customer funds from FTX.
A day after his high-profile extradition to the United States, Sam Bankman-Fried was released on a $250 million bond. A trial date has been scheduled for October 2.
