FTX’s Sam Bankman-Fried being transferred to new prison
Bankman-Fried Moved: Fair Justice or Foul Play?
Sam Bankman-Fried, the founder of FTX, is being transferred from a New York prison to a federal correctional facility in Mendota, California, despite his preference to stay in New York for his appeal preparation. Initially jailed in New York since last summer, Bankman-Fried's relocation was confirmed without specifying which part of the Mendota facility he would be placed in, though it is likely to be the medium-security section due to his 25-year sentence for financial fraud.
Why did Sam Bankman-Fried request to stay at the Metropolitan Detention Center in Brooklyn?
Sam Bankman-Fried, the founder of the now-bankrupt cryptocurrency exchange FTX, requested to stay at the Metropolitan Detention Center (MDC) in Brooklyn while helping to prepare briefs for his appeal. His lawyers made the request in April, as they believed staying in New York would be more convenient for his legal team. In the long term, Bankman-Fried's team had pushed for him to serve his sentence in California so he could be closer to his parents' home near Stanford University. However, his immediate transfer to a new facility goes against his wishes of staying in New York while preparing for his appeal3.
What were the reasons given for Sam Bankman-Fried's transfer to a new prison?
Sam Bankman-Fried, the founder of the FTX cryptocurrency exchange, was transferred to a new prison, overriding his wish to stay in New York while helping to prepare his appeal2. The decision to transfer him to a new facility was made by federal officials. It is unclear what specific reasons led to this decision, as Bankman-Fried had sought to stay in New York in the near term while preparing his appeal for multiple federal counts of fraud and conspiracy, for which he was sentenced in March to 25 years in prison. The transfer took place early Wednesday, removing him from the Brooklyn, New York, jail where he had resided for the past nine months5. Bankman-Fried had expressed his desire to remain in New York to assist with his appeal, and his lawyers had requested for him to stay at the Metropolitan Detention Center in Brooklyn. In the long term, Bankman-Fried's team had pushed for him to serve his sentence in California, so he could be closer to his parents' home near Stanford University. However, it is not known if these factors were considered in the decision to transfer him to a new prison.