UPDATE: Former FTX CEO Sam Bankman-Fried has been denied bail by Chief Magistrate Joyann Ferguson-Pratt and has been remanded to the Bahamas Department of Corrections. He is scheduled to be back in court on February 8, 2023.

FROM EARLIER:

By PAVEL BAILEY

DISGRACED former FTX CEO Sam Bankman-Fried appeared in Magistrates Court on Tuesday before Chief Magistrate Joyann Ferguson-Pratt.

The chief magistrate is hearing arguments over the issue of Bankman-Fried’s bail after the defendant choose not to waive his right an extradition hearing.

The former billionaire faces warrants of arrest in the Southern District of New York, a federal warrant as well as a diplomatic note requesting his arrest on behalf of the US.

Bankman-Fried appeared in court in a blue suit and without handcuffs. He was brought to court on a provisional warrant which was issued Monday just before his arrest.

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