FTX founder Sam Bankman-Fried reaches extradition agreement: Report

Sam Bankman-Fried 120622
Sam Bankman-Fried, co-founder and chief executive officer of FTX. (Bloomberg/Bloomberg via Getty Images)

FTX founder Sam Bankman-Fried reaches extradition agreement: Report

Disgraced FTX founder Sam Bankman-Fried has reportedly agreed to get extradited to the United States to face charges levied against him for wire fraud stemming from his bankrupt cryptocurrency firm.

Bankman-Fried, also known as SBF, reached the agreement voluntary during a court hearing Monday, the Washington Post reported.

He is facing charges of conspiracy to commit wire fraud on customers and lenders, conspiracy to commit money laundering, conspiracy to commit commodities and security fraud, a separate wire fraud on customers and lenders, violating campaign finance laws, and conspiracy to defraud the United States. He is also facing civil securities fraud charges from the Securities and Exchange Commission.

If convicted, he could face up to 115 years behind bars.

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This is a breaking story and will be updated.

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