American crypto currency entrepreneur, Sam Bankman-Fried has been arrested in the Bahamas on a federal indictment filed against him in the United States. So what happens next for Mr. Bankman-Fried? He will now face extradition. Extradition is the formal process of one state or country surrendering a person to another state or country for prosecution or punishment for a crimes allegedly committed in the requesting state’s jurisdiction. The process is usually governed by an extradition treaty between the two states or countries. On December 14, 2022, Mr. Bankman-Fried had his first appearance in the Nassau Bahamas Magistrate Court . After arguments from both the prosecution and the defense, the court ordered Mr. Bankman-Fried to be held without bond until his next court appearance on February 8, 2023. Generally speaking, an accused can choose to waive extradition proceedings and consent to being returned to the state or country where they are wanted, or they can choose to challenge the extradition. The United States and the Bahamas have an extradition treaty, so challenging extradition back to the United States will be difficult for Mr. Bankman-Fried. Those who do challenge extradition, typically raise several different arguments: 1) their inability to receive a fair trial in the receiving country or state; 2) that they will face unjust punishment; or 3) that they will face inhumane treatment in the receiving country. Mr. Bankman-Fried’s lawyers have indicated that they intend to challenge his extradition back to the United States.
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