FTX Founder Sam Bankman-Fried is moving to new prison: WSJ report

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The Block2024/05/22 19:37

By:The Block

Quick Take Sam Bankman-Fried is relocating to a new prison, The Wall Street Journal reported, citing a representative for the FTX founder. The move, which is already underway, is likely a transfer to a California-based facility, sources told the WSJ.

FTX Founder Sam Bankman-Fried is moving to new prison: WSJ report image 0

Sam Bankman-Fried is moving to a new prison facility, The Wall Street Journal reported Wednesday.

Federal officials initiated the prison transfer early Wednesday, a representative for Bankman-Fried told the WSJ. The spokesperson “couldn’t confirm” the FTX founder’s destination, but sources familiar with the matter believe the former executive is relocating to a prison in Mendota, California, the publication reported.

The move comes several weeks after federal prosecutors recommended that Bankman-Fried be moved to a low-security facility in California, close to his parents’ home in Palo Alto. In April, the FTX founder expressed a desire to stay at Brooklyn’s Metropolitan Detention Center, a mixed-security facility in New York, to remain close to the lawyers working on his appeal.

As of this writing, it is unclear if Bankman-Fried has already left MDC Brooklyn or whether he has reached his new facility.

A representative for Bankman-Fried did not immediately respond to The Block’s request for comment.

Bankman-Fried first went to prison early last year when Judge Kaplan of the Southern District of New York revoked his bail for witness tampering. Bankman-Fried is serving a 25-year sentence , which Judge Kaplan handed down on March 28.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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