Former FTX CEO Sam Bankman-Fried is expected to appear in court in The Bahamas on Monday to reverse his decision to contest extradition to the United States, where he faces fraud charges, a person familiar with the matter said on Saturday. The cryptocurrency mogul was indicted in federal court in Manhattan on Dec. 13 and accused of engaging in a scheme to defraud FTX customers. Prosecutors said he used stolen customer deposits to pay for expenses and debts and to make investments on behalf of his crypto hedge fund, Alameda Research LLC.
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