Tags: sam bankman-fried | jail | transfer | appeal

FTX's Bankman-Fried Being Transferred to New Prison

FTX's Bankman-Fried Being Transferred to New Prison
FTX founder Sam Bankman-Fried leaves Manhattan federal court in New York (Bebeto Matthews/AP/2023 file)

Wednesday, 22 May 2024 12:27 PM EDT

Federal officials began the process to transfer Sam Bankman-Fried to a new prison, overriding his wish to stay in New York while helping to prepare his appeal, The Wall Street Journal reported Wednesday, citing a spokesman for the jailed FTX founder.

Bankman-Fried was earlier this year sentenced to 25 years in prison by a judge for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded.

A jury found him guilty in November on seven fraud and conspiracy counts stemming from FTX's 2022 collapse in what prosecutors have called one of the biggest financial frauds in U.S. history.

© 2024 Thomson/Reuters. All rights reserved.


StreetTalk
Federal officials began the process to transfer Sam Bankman-Fried to a new prison, overriding his wish to stay in New York while helping to prepare his appeal, The Wall Street Journal reported Wednesday.
sam bankman-fried, jail, transfer, appeal
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2024-27-22
Wednesday, 22 May 2024 12:27 PM
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