As soon as he arrived in the U.S., the government sought to proceed against Bankman-Fried on all eight charges in the Original Indictment.

To avoid a lengthy extradition proceeding, Mr. Bankman-Fried agreed to an expedited procedure called “simplified extradition” under an Extradition Treaty.

The Government filed its first indictment against Mr. Bankman-Fried on December 9, 2022, charging him with eight counts.

Like many other cryptocurrency market participants, FTX did not have fully developed controls and risk management protocols.

In the early morning hours of November 11, 2022, Mr. Bankman-Fried stepped down as CEO of FTX. FTX subsequently filed for bankruptcy.

Bitcoin saw its price drop by more than 65%, from a high of approximately $67,000 in late 2021 to about $20,000 in the summer of 2022.

Alameda was one of the hedge funds that traded on the FTX exchange and for a time served as its largest market-maker and liquidity provider.

The combined market capitalization of all cryptocurrencies grew from less than $200 billion in 2020 to nearly $3 trillion in 2021.

The U.S. government filed a court filing against Sam Bankman-Fried on December 9, 2022.

UNITED STATES OF AMERICA v. SAMUEL BANKMAN-FRIED Court Filing Lewis A. Kaplan., December 9, 2022 is part of HackerNoon’s Legal PDF Series.

The Government has not indicated whether it has in its possession communications between the Bahamas and any other U.S. government agency.

The Government may only prosecute Mr. Bankman-Fried for Counts 9, 10 and 13 if it follows the procedure for obtaining the Bahamas’s consent.

The Bank Fraud, Unlicensed Money Transmitting, and FCPA Conspiracy Charges (Counts 9, 10, and 13) Violate the Rule of Specialty and Must Be Dismissed.

The bank fraud, unlicensed money transmitting, and FCPA conspiracy charges violate the rule of specialty.

Individual defendants have standing to assert extradition treaty violations.

If Bankman-Fried is denied standing to raise this issue, the only way the Bahamas can vindicate its rights is by running an objection up the chain.

The Bahamas has indicated that it “would object” to the addition of new charges following extradition in Sam Bankman-Fried's case.

Supreme Court precedent supports Bankman-Fried’s standing to raise objections based on the rule of specialty.

UNITED STATES OF AMERICA v. SAMUEL BANKMAN-FRIED Court Filing Lewis A. Kaplan, December 9, 2022 is part of HackerNoon’s Legal PDF Series.

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