Ex-FTX CEO Sam Bankman-Fried Shifted to Oklahoma Detention Center Amid Fraud Conviction
Summary:
Ex-FTX CEO, Sam "SBF" Bankman-Fried, has been moved from prison in New York to a temporary detention center in Oklahoma. Though recommended to stay in Brooklyn for access to his appellate counsel, the move occurred amidst reports he may be transferred to Mendota's Federal Correctional Institution, closer to his parent's San Francisco Bay Area home. Bankman-Fried pleaded not guilty to charges relating to customer fraud in the FTX and Alameda Research collapse. All other connected individuals admitted guilt.
Sam "SBF" Bankman-Fried, ex-chief executive of FTX, is no longer under detention in New York or California, demarcations where his parents reside. Instead, per incarceration database, he is now held in Oklahoma. The 23rd of May revealed that the ex-FTX chief was hosted at the Federal Transfer Center in Oklahoma City, as per the Federal Bureau of Prisons' inmate records. The U.S. Department of Justice's Inspector General's office outlines the facility as a temporary detainment center for prisoners during internal movement within the jail system.
Surprisingly, despite Judge Lewis Kaplan of the Southern District of New York's U.S. District Court recommending an extended stay in Brooklyn, Bankman-Fried's move to Oklahoma had been put into motion. Reports from the 22nd of May suggested that the authorities had plans to move the ex-FTX CEO from Brooklyn's Metropolitan Detention Center (MDC) to Mendota's Federal Correctional Institution (FCI).
After his bail got revoked in August 2023, Bankman-Fried had been held in New York and had pleaded to remain at MDC Brooklyn post his sentencing hearing in March 2024. This request was to enable him to easily access his appellate counsel. The jury indicted Bankman-Fried, the ex-FTX chief, with seven felony charges in November 2023, with Judge Kaplan later decreeing a 25-year prison term.
On May 22, Judge Kaplan had filed a court letter, suggesting Bankman-Fried's continued presence in New York "to ease access to appellate counsel." However, the length of his confinement at the Oklahoma facility remains ambiguous at this point. If relocated to FCI Mendota, the ex-FTX CEO would be nearer to his parents' home in the San Francisco Bay Area. The Federal Bureau of Prisons' online information reveals that the Oklahoma facility, located in proximity to the Will Rogers World Airport, holds 1,414 inmates.
Among all the individuals associated with the fallout of FTX and Alameda Research, only Bankman-Fried stood his ground, pleading not guilty, and subsequently got convicted for deceiving the customers. Meanwhile, Ryan Salame, Gary Wang, Caroline Ellison, and Nishad Singh, all former executives of FTX and Alameda, admitted their guilt and reached settlement agreements with the authorities. Salame's sentencing is due on May 28.
Published At
5/23/2024 11:10:49 PM
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