NEW YORK (AP) — The cryptocurrency entrepreneur Sam Bankman-Fried can post $250 million bond and live in his parents’ home in California while he awaits trial on charges that he swindled investors and looted customer deposits on his FTX trading platform, a judge said Thursday.
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Assistant U.S. Attorney Nicolas Roos said in U.S. District Court in Manhattan that Bankman-Fried, 30, “perpetrated a fraud of epic proportions.” Roos proposed strict bail terms, including a $250 million bond and house arrest at his parents’ home in Palo Alto, California.
An important reason for allowing bail was that Bankman-Fried agreed to waive extradition, Roos said.
Magistrate Judge Gabriel W. Gorenstein agreed to the bond and also approved the house arrest proposal.
Bankman-Fried wore a suit and tie in court and sat between his attorneys. Two U.S. marshals sat behind him.
Bankman-Fried, arrested in the Bahamas last week, was flown to New York late Wednesday after deciding not to challenge his extradition.
While he was in the air, the U.S. attorney in Manhattan announced that two of Bankman-Fried’s closest business associates had also been charged and had secretly pleaded guilty.
The US needs to bring back the 40 MILLION DOLLARS he gave to Political parties especially most of it to the DemocRATS – to pay the people he defrauded BEFORE he posts bail
i thought the Democrats say bail reform only helps the rich, unless they are THEIR donors so this 30 year old will now end up in his parents basement?
He looks like a nice guy
Give him time
He will pay everyone back
Now that he is an unemployed liar will he be joining yaffed?
The judge should require he take a hair cut and look cleaner. Now the adults are in charge. No more fuzzy hair and shorts