National

Extradition Won’t Impact Local Probe, COP Says

NASSAU, BAHAMAS – The recent extradition of former FTX CEO Sam Bankman-Fried will not impact local investigations, according to Police Commissioner Clayton Fernander, who says the local investigation continues.

Published

1 year ago

December 28, 2022

Berthony McDermott

Bankman-Fried was extradited to New York one week ago, where he was arraigned and released on a $250m bail bond package as he awaits trial.

In addition to Bankman-Fried’s house arrest at his parents’ Palo, California home, bail conditions require him to surrender his passport and undergo regular mental health treatment and evaluation.

At this time, the former FTX CEO hasn’t been hit with any charges in The Bahamas.

If that changes, Fernander says he is confident officials can get him back in the country if need be.

The Securities Commission of The Bahamas froze FTX’s assets and put the company into liquidation. Meanwhile, the company’s United States-based entities are in chapter 11 bankruptcy.

Speaking at the 2022 Boxing Day Junkanoo parade, Fernander revealed there’s only one local matter against the disgraced FTX CEO.