Bankman-Fried Moves to New Facility While Fighting FTX Conviction
- Sam Bankman-Fried, transferred to a California prison while appealing his 25-year conviction for fraud and money laundering.
- The transfer process for Bankman-Fried is expected to be slow, taking over a month.
- Bankman-Fried’s legal team appeals his 25-year sentence and $11 billion forfeiture.
Sam Bankman-Fried, the disgraced founder of the now-defunct cryptocurrency exchange FTX, is set to be transferred to a new prison as he prepares an appeal to overturn his conviction.
Wall Street Journal reports Bankman-Fried is likely to be moved to a medium-security facility in California. However, the exact location of the prison remains undisclosed.
The transfer process is expected to be slow, potentially taking over a month. This delay is partly due to a recommendation by the judge who presided over Bankman-Fried’s trial, suggesting that he should stay incarcerated in New York to facilitate access to his appellate counsel. Despite this recommendation, the decision has been made to relocate him.
Bankman-Fried was sentenced to 25 years in prison and ordered to forfeit $11 billion after being convicted on seven counts, including fraud, conspiracy, and money launder…
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