Sam Bankman-Fried, a young American entrepreneur, has already experienced his fair share of successes and failures over just a few years. Just recently, he was found guilty of stealing from customers and defrauding investors out of a whopping $8 billion after founding a now defunct FTX cryptocurrency exchange.

Back before Sam Bankman-Fried was arrested and charged, he was being touted as a young genius and great representative for cryptocurrency. He founded his cryptocurrency exchange business in 2019 During the height of his career, he was determined to be the 41st richest American. FTX was based in the Bahamas.

Then, in January of 2023, Sam Bankman-Fried was arrested in the Bahamas after prosecutors in the United States filed criminal charges against him for violating securities laws. Not too long after, he was extradited to the U.S. where he faced a lengthy trial. He faced charges including securities fraud, wire fraud conspiracy, wire fraud, securities fraud conspiracy, and money laundering.

It seems that Sam Bankman-Fried’s company started to collapse after it was revealed that there was an $8 billion loss for the company. When FTX attempted to create a partnership with Binance, the company took a look at FTX’s books and quickly declined the offer. When news of this went public, it wasn’t long before FTX had to file for bankruptcy.

Throughout the trial, Bankman attempted to blame the company’s failures on accounting errors and management failures rather than intentional fraud. Despite that, he was found guilty in November 2023 of all seven counts he faced. The jury reportedly reached a verdict after deliberating for only four hours.

Bankman may not be completely finished with court, as he could face an additional trial next March on charges of foreign bribery, bank fraud, and conspiracy. The Bahamas Supreme Court must first consent to these charges before the new trial starts, though.

International Justice: What You Need to Know

As if Bankman’s situation wasn’t serious enough facing the charges he’s already been convicted of, he may need to face more charges soon depending on how the Bahamas government responds to the situation. According to existing extradition treaties between the U.S. and the Bahamas, each country must agree to the charges brought after an extradition before a trial can begin. For that reason, Bankman’s additional charges have not been brought forth yet.

If you ever get caught up in a situation that involves international law, extradition treaties, and complicated global geopolitics, then it’s crucial that you hire a qualified global legal representative who can help. The right attorney will help ensure that you fully understand all the laws that might come into play in your situation. They’ll help you weigh out and consider your legal options as well as understand what might happen if you get extradited or face additional charges in a foreign country.

Here at Bukh Global, our highly qualified lawyers are prepared to help you unpack your international charges and assist you in navigating your situation. Schedule a meeting or call with our firm now to talk about your case.