A quarter of a billion dollars: the price of freedom for Sam Bankman-Fried

End-of-year celebrations away from barsJust hours after his extradition, Sam Bankman-Fried (SBF) appeared in US court to seek bail, which he had previously been denied by a Bahamian court.

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SBF free: rats from the Bahamas prison to a California residence

According to a article of December 22, the magistrate Gabriel Gorenstein of the Federal District Court in Manhattan granted Sam Bankman-Fried the freedom, subject to the $250 million bond payment.

This setting temporary freedompending trial, comes with other obligations, including house arrest, wearing of electronic bracelets and a surrender of the FTX founder’s passport.

The judge insisted on the need for a “strict supervision before the trial”and requested treatment and mental health assessment of Sam Bankman-Fried, who reportedly suffers from depression and takes prescription drugs.

Sam Bankman-Fried paid bail of $250,000 to be granted bail
Faced with American justice, Sam Bankman-Fried escapes prison for the moment

The parents of Sam Bankman-Fried offered their house as collateral for the surety. The 10% guarantees, or 25 million dollars, would have been provided by third parties and by the family of SBF. If the founder of FTX had paid these 250 million dollars himself, he would have raised many questions given his recent declarations on his bank account, which do not would contain more than about $100,000.

SBF currently lives with his parents in Palo Alto, California, where he will have to wait for his next appearance scheduled on January 5, 2023.

Like the former CEO of Alameda, Caroline Ellison, Sam Bankman-Fried will therefore not spend the end of the year celebrations behind bars in the United States. Nevertheless, whether his two lieutenants have pleaded guiltythe founder of FTX continues to dismiss the charges of fraud.

Last Verdict

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