NASSAU – FTX co-founder Sam Bankman-Fried’s preparations to be extradited to the US have hit an abrupt and confusing snag in a Bahamas courtroom.

Bankman-Fried said in court on Monday that he was ready to waive his right to fight extradition to the United States, where he faces charges including wire fraud. However, his local lawyer, Mr Jerone Roberts, said in the same hearing that he was not aware of the plan.

Ultimately, the proceedings were adjourned and the former FTX chief executive was ordered to return to jail. Later in the day, Mr Roberts appeared to reverse himself, telling local media that Bankman-Fried would not fight extradition and could be back in court again this week. Attempts to reach Mr Roberts were unsuccessful.

The chaotic scene is the latest twist in the high-stakes drama that has been playing out since Bankman-Fried was arrested last week at the request of the US authorities.

Although he said last week that he would fight extradition, Bankman-Fried has more recently indicated in private conversations that he was preparing to return to the US as soon as Monday, according to a person with direct knowledge of the matter. 

Bankman-Fried’s change in attitude is in part tied to the expectation that he will be able to get bail in the US, according to the person, who asked not to be identified due to the sensitivity of the matter.

Representatives for Bankman-Fried and the US Attorney’s Office for the Southern District of New York, which has been handling the case, declined to comment on Monday. After the judge adjourned the proceedings, Bankman-Fried and Mr Roberts appeared to convene a conference call in the cleared-out courtroom. 

Bankman-Fried wore a blue suit and a white shirt to Monday’s proceedings, which played out in a courtroom packed with about 20 people, including several who appeared to work for the US government and members of the press. There was confusion from the start as Mr Roberts asked for clarification on the purpose of the hearing, and said he was “shocked” to find out that his client was in court.

A brief recess was called shortly after the hearing began.

Bankman-Fried kept his head down for much of the proceedings, his right arm twitching. When asked to stand before the judge, his jacket was off, his shirt was untucked and his sleeves were rolled up. A bailiff ordered him to keep his hands out of his pockets.

Before his arrest, in numerous interviews following FTX’s implosion in November, the 30-year-old denied knowingly committing fraud or breaking the law. 

Since being denied bail in the Bahamas court last week, Bankman-Fried has been in a notorious correctional facility on the outskirts of Nassau known as Fox Hill.

FTX and scores of related companies declared bankruptcy in November after three years of frenetic growth. At its peak, the exchange was worth US$32 billion (S$43.4 billion).

The authorities in both the Bahamas and the US are continuing to probe Bankman-Fried’s involvement in FTX’s collapse. The company was headquartered in the Bahamas. BLOOMBERG