Sam Bankman-Fried To Walk Free On $250M Bond, Be Put On House Arrest

FTX founder Sam Bankman-Fried (2nd L) is led away handcuffed by officers of the Royal Bahamas Police Force in Nassau, Bahamas on December 13, 2022. - Disgraced cryptocurrency tycoon Sam Bankman-Fried was hit with multiple criminal charges December 13, 2022, accused of committing one of the biggest financial frauds in US history. Bankman-Fried will serve time at The Bahamas Department of Corrections until February 8, 2023. (Photo by Mario DUNCANSON / AFP) (Photo by MARIO DUNCANSON/AFP via Getty Images)

At a glance

  • FTX founder Sam Bankman-Fried is set to be released on a $250 million bond and placed under house arrest at his parents’ California home following his first court appearance in Manhattan federal court Thursday.
  • US District Judge Gabriel Gorenstein signed off on the deal that saw the accused fraudster voluntarily leave the Bahamas to face a slew of charges, including wire fraud, securities fraud, conspiracy, money laundering, and campaign finance violations. The combined charges carry a sentence of 115 years behind bars.
  • He appeared in court wearing a dark gray suit and sporting a 5 o’clock shadow and huddled with his lawyers Christian Everdell and Mark Cohen — who represented high-profile sex offender Ghislaine Maxwell earlier this year — before the proceedings got underway.

Top News Stories

You May Like: