FTX founder Sam Bankman-Fried to move from New York jail to California

Image for article titled SBF will be transferred to a new jail in California — near where his parents live

Photo: Mike Segar (Reuters)

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

SBF was planning to stay in New York while helping to prepare his appeal, but now, according to the report, he will be two and a half hours from his parents’ home near Stanford University. Mendota is a medium-security federal correctional institution and an adjacent minimum-security satellite facility.

He has been imprisoned in a Brooklyn jail for the past nine months, where he also gave his first interview after receiving the jail sentence. According to the report, Bankman-Fried was informed of the transfer several days ago and was woken up early Wednesday morning for the move.

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 in the spectacular collapse of the crypto exchange FTX for stealing at least $10 billion from customers and investors.

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