Judge Allows FTX Founder Bankman-Fried to Be Released on $250 Million Bond to Parents’ Home
A judge on Thursday allowed FTX founder Sam Bankman-Fried to be released on $250 million bond and placed under house arrest at his parents’ home after his first court appearance on U.S. soil.
A federal magistrate judge, Gabriel Gorenstein, allowed Bankman-Fried to be released to his parents’ Palo Alto, California, home, after the FTX founder’s first court appearance in Manhattan. Earlier this week, the crypto exchange founder was sent from the Bahamas, where he had lived, to the United States after he agreed to extradition.
Bankman-Fried will enter a plea on a slew of charges, including fraud and campaign finance violations, at a later date, the judge said. The combined charges carry a sentence of 115 years in prison, federal officials say….