FTX founder Sam Bankman-Fried to move from New York jail to California – Crypto News BTC

Sam Bankman-Fried, or SBF, the disgraced cryptocurrency executive who was sentenced to 25 years in prison for fraud, shall be transferred from Brooklyn, New York, to Mendota, California, in opposition to his needs, the Wall Street Journal reports.

SBF was planning to remain in New York whereas serving to to organize his enchantment, however now, based on the report, he shall be two and a half hours from his mother and father’ house close to Stanford College. Mendota is a medium-security federal correctional establishment and an adjoining minimum-security satellite tv for pc facility.

He has been imprisoned in a Brooklyn jail for the previous 9 months, where he also gave his first interview after receiving the jail sentence. Based on the report, Bankman-Fried was knowledgeable of the switch a number of days in the past and was woken up early Wednesday morning for the transfer.

Former cryptocurrency billionaire Bankman-Fried was sentenced to 25 years in prison in March for perpetrating one of the biggest financial frauds in history. He was convicted of fraud within the spectacular collapse of the crypto exchange FTX for stealing not less than $10 billion from prospects and traders.

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