Sam Bankman-Fried, co-founder of FTX, is expected return to the U.S. Wednesday to face charges related to his alleged management of the collapsed cryptocurrency exchange, Bloomberg reported . The 30-year-old signed surrender documents on Tuesday and will sign a set of papers finalizing his waiver of rights to contest extradition at a court in Nassau, Bahamas, on Wednesday. Then FBI agents will accompany him on a non-commercial aircraft from a private airport in the Bahamas, a people familiar with the matter told Bloomberg. The plan's details could still change. Initially, SBF said he would fight extradition, but earlier this week said he was preparing to return to the U.S. Part of the change in tack was reportedly due to the increased chance to get bail in the U.S., Bloomberg said. On Dec. 13, Bankman-Fried was charged by the Department of Justice with eight counts of fraud, money laundering and campaign finance offenses. On the same day, the Securities and Exchange Commission filed a complaint against him, alleging the co-founder engaged in scheme to defraud investors. On Tuesday, FTX's new management said they have identified more than $1B in assets as they wind down the firm.
