Sam Bankman-Fried was expected to face a judge in Manhattan federal court Thursday afternoon on charges he bilked investors in his FTX cryptocurrency exchange out of $1.8 billion.
The disgraced crypto king’s mother Barbara Fried was seen arriving at the Pearl Street courthouse hours before an expected noon arraignment.
Bankman-Fried, 30, was flown to New York from the Bahamas late Wednesday after waiving his right to a lengthy extradition process and was in federal custody.
While Bankman-Fried was being flown to the states to face the charges, Manhattan US Attorney Damian Williams announced that two of his cohorts had also been charged in connection with the alleged grift and secretly pleaded guilty.
Gary Wang, 29, an FTX co-founder, and Carolyn Ellison, 28, the former CEO of Alameda Research and Bankman-Fried’s ex-girlfriend copped to wire fraud, securities fraud and commodities fraud, according to prosecutors.