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.
