Sam Bankman-Fried back in jail in Bahamas after judge cuts hearing short

Sam Bankman-Fried headed back to a Bahamian jail after a hearing, in which the disgraced FTX co-founder was expected to agree to extradition to the U.S., was cut short by the court's judge, the Associated Press reported Monday, citing local news outlets. Bankman-Fried's local attorney asked for the adjournment because he hadn't been properly consulted about the proceeding. Prosecutors and Magistrate Judge Shaka Servillea reportedly called the hearing a waste of time. Earlier in the day, Reuters reported that a lawyer for SBF told the judge that his client wanted to see the indictment against him before agreeing to be extradited to the U.S. An extradition hearing had been set for Feb. 8. That timetable could accelerate if SBF, as he is known, agrees to the extradition. Last week, John J. Ray, III, a restructuring expert brought in as CEO right before FTX filed for bankruptcy, said in Congressional testimony that he had never seen "such an utter failure of corporate controls at every level on organization" as he had at FTX.