Co-founder of the FTX cryptocurrency exchange Sam Bankman-Fried (SBF) will be transferred to a new prison located in California. We are talking about a correctional facility in the city of Mendota, writes WSJ.
According to available information, US authorities decided to transfer an entrepreneur convicted to 25 years for fraud due to his proximity to the home of SBF’s parents. Previously, experts noted that this is a standard procedure for the American prison system.
Bankman-Fried's lawyers tried to convince state representatives of the need to keep the businessman in a New York prison. In their opinion, he should remain there until the court considers the appeal in the SBF case. However, the authorities did not listen to the defense’s position.
SBF is currently housed in the Metropolitan Detention Center in Brooklyn. He was placed there after the court changed his bail conditions and ordered the accused to remain in custody.
In this institution, SBF found himself sharing a cell with the former President of Honduras, and was given access to vegetarian food and a laptop, media claimed. Earlier, information also appeared that the co-founder of FTX sells rice in prison and has lost 11 kg.
If Bankman-Fried's transfer to a new prison takes place, he will be approximately 200 km from his parents' home. It is worth noting that the entrepreneur stayed in this mansion after his extradition from the Bahamas.
There are 931 inmates serving time at the Mendota-based Federal Correctional Institution. This is a medium-security colony with an adjacent satellite correctional camp.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
