Key Takeaways:
- Sam Bankman-Fried, former CEO of FTX, is currently detained at the Federal Transfer Center in Oklahoma City, indicating a possible transfer to California.
- Convicted of seven felony counts and sentenced to 25 years in prison, Bankman-Fried is the only former FTX executive to plead not guilty and be convicted.
- His potential transfer to the Federal Correctional Institution in Mendota would place him closer to his parents in the San Francisco Bay Area.
Sam Bankman-Fried, the former CEO of FTX, is currently detained at the Federal Transfer Center in Oklahoma City, suggesting a possible transfer to a California prison.
Previously held in New York since August 2023 after his bail was revoked, he was moved despite Judge Lewis Kaplan’s recommendation to keep him in Brooklyn for better access to his appellate counsel.
Sam Bankman-Fried has been moved to a temporary detention center in Oklahoma despite a federal judge’s request that he remain in New York to assist in his appeal https://t.co/sRLsqSbyJJ
— Bloomberg Crypto (@crypto) May 23, 2024
Bankman-Fried was convicted of seven felony counts in November 2023 and sentenced to 25 years in prison in March 2024.
His stay in Oklahoma, a facility housing 1,414 inmates near Will Rogers World Airport, is uncertain.
If transferred to the Federal Correctional Institution in Mendota, he would be closer to his parents in the San Francisco Bay Area.
BREAKING: Sam Bankman-Fried pleads not guilty to all charges in FTX fraud case.
— Watcher.Guru (@WatcherGuru) January 3, 2023
Unlike other former FTX and Alameda executives—Ryan Salame, Caroline Ellison, Gary Wang, and Nishad Singh—who pleaded guilty and cooperated with authorities, Bankman-Fried is the only one to plead not guilty and be convicted.
About The Author
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