Welcome to readin – the best world tech news chanel.

Sam Bankman-Fried transferred out of Brooklyn jail| GuyWhoKnowsThings

Sam Bankman-Fried, the founder of the FTX cryptocurrency exchange who was convicted of fraud and conspiracyHe was transferred out of a Brooklyn detention center on Wednesday morning, his spokesperson said.

Bankman-Fried's final fate was unclear, said her spokesman, Mark Botnick. Before the transfer, Bankman-Fried, 32, told people close to him that he expected to be transferred to a federal correctional facility in Mendota, California, a person with knowledge of the matter said.

A Bureau of Prisons representative declined to comment on Bankman-Fried, citing “privacy and security reasons.” A spokesman for prosecutors who oversaw Bankman-Fried's case did not immediately respond to a request for comment.

Mr. Bankman-Fried's transfer was reported previously by The Wall Street Journal.

In March, Mr. Bankman-Fried was sentenced to 25 years in prison, after being found guilty of defrauding FTX clients, investors and lenders. Prosecutors said he orchestrated a years-long fraud, siphoning $8 billion from client accounts to fund venture capital investments, political contributions and real estate purchases.

When charged, Mr. Bankman-Fried was granted bail and confined to his parents' home in Northern California. The judge overseeing his case revoked his bail in August, alleging that he had tried to intimidate a witness.

Bankman-Fried has since been confined at the Brooklyn Metropolitan Detention Center. After being sentenced in March, Bankman-Fried asked to remain in the detention center while he works on an appeal challenging his conviction.

Share this article:
you may also like
Next magazine you need
most popular

what you need to know

in your inbox every morning