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Disgraced cryptocurrency exchange executive Sam Bankman-Fried has changed his mind about fighting the United States’ attempt to extradite him from the Bahamas.
Bankman-Fried stands accused of defrauding the investors in his now-defunct exchange, FTX, out of billions of dollars.
The 30-year old former billionaire is expected to waive his extradition contest in a Monday court hearing, according to Reuters.
The change in Bankman-Fried’s legal strategy comes after a brief stay of just four days in the squalid Fox Hill prison.
It’s unclear why Bankman-Fried has opted not to fight extradition, but the conditions in Bahamanian prison are dire.
A correctional officer at the overcrowded facility has described it as “not being fit for humanity.”
Video footage from the facility shows conditions poor — even by the standards of a third world country.
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