You didn’t have to piss off the judge! After the group exploded in flight FTXits founder Sam Bankman-Fried (SBF) became the main defendant on various counts of fraud and embezzlementincluding fraud against customers of the fallen crypto exchange. His attitude has finished annoying the judge in charge of the case, who decided to terminate his bailwhich allowed him to reside in his parents’ mansion. SBF is now behind bars in a New York prison.
Sam Bankman-Fried’s bail revoked
Since his extradition from the Bahamas in December 2022, Sam Bankman-Fried had spent very little time in detention in the United States. In fact, a bail of $250 million was a quick reminder that rich and poor alike are entitled to two very different forms of justice for Uncle Sam.
But SBF couldn’t keep his mouth shut, preventing him from staying with his parents, in their sumptuous mansion in Palo Alto, California (see below). In addition to embarrassing the former director ofAlameda Research, Caroline Ellison, revealing her diary to the publicSam Bankman-Fried was charged by the judge Lewis Kaplan to exert pressure on ex-employees, in order to attempt to influence/falsify their statements (in his favor, of course).
As of this Friday, August 11, 2023, it is therefore back to prison for the former FTX Group CEO! SBF’s many misdemeanors finally convinced Judge Kaplan to prevent him from continuing his little game of « look, everyone’s guilty except me »..
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From luxury mansion with swimming pool to overcrowded prison for FTX’s ex-CEO
Now, for 3 nights, Sam Bankman-Fried stays at Metropolitan Detention Center (MDC) of Brooklynin New York City. As can be seen in the image below, this prison environment must offer quite a change to the man responsible for the FTX disaster.
Especially since this detention center, built some thirty years ago, was apparently designed solely to house 1000 prisoners according to Wikipedia. The number of incarcerated prisoners would be 1549 currently, according to the official Federal Bureau of Prisons.
Incidentally, this Brooklyn federal detention center has such a bad reputationthat some observers (like Adam Cochran below on X) have come to believe that it will « crack SBF, and that he will « plead guilty in the coming days ». to be transferred from prison.
It must be said that Judge Lewis Kaplan himself admits that the MDC Brooklyn prison is not not « on the five-star list ».. Perhaps this will actually help Sam Bankman-Fried to stop playing innocent, and to admit his guiltlike all his former relatives and senior executives of the FTX Group, who have already all decided to plead guilty.
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