https://sputnikglobe.com/20230121/mystery-sponsors-helped-bail-disgraced-ex-ftx-ceo-sam-bankman-fried-out-of-jail-1106556320.html
Mystery Sponsors Helped Bail Disgraced Ex-FTX CEO Sam Bankman-Fried Out of Jail
Mystery Sponsors Helped Bail Disgraced Ex-FTX CEO Sam Bankman-Fried Out of Jail
Sputnik International
Two mystery sponsors contributed to bailing out of jail the ex-CEO of collapsed crypto-empire FTX, Sam Bankman-Fried.
2023-01-21T14:54+0000
2023-01-21T14:54+0000
2023-01-21T14:54+0000
us
sam bankman-fried
americas
crypto currency
crypto-trading exchange
fraud
bail
https://cdn1.img.sputnikglobe.com/img/07e7/01/15/1106555877_0:207:2907:1842_1920x0_80_0_0_f91a48d934a8f8049d332f7161149932.jpg
Sam Bankman-Fried, the founder of collapsed cryptocurrency exchange FTX, has managed to stay of jail thanks to hefty contributions from two anonymous sponsors, according to a court filing.Bankman-Fried, who is facing convictions on a generous buffet of fraud charges, is currently awaiting trial in a Manhattan federal court, residing under house arrest at his parents' California home. One of the two unnamed sponsors posted $500,000, with the other posting $200,000 towards guaranteeing the alleged fraudster's $250 million bond, settled in December, 2022. Besides these two bail backers, the bond was also secured by Bankman-Fried's parents, who offered their Palo Alto home, estimated to be worth $4 million, as collateral.Details about the contributors were disclosed by Christian Everdell, one of Bankman-Fried's defense attorneys, to be subsequently included in the bail condition documents by US District Judge Lewis Kaplan.Earlier in January, some media outlets urged the judge overseeing the case to unseal the names of the two backers, arguing that there was "no dispute" it would be in the public interest. However, Bankman-Fried's lawyers have insisted on secrecy to guarantee their "privacy and safety." The legal team pointed to how Bankman Fried's parents were allegedly exposed to threats and harassment for their financial role in bailing their son out.Sam Bankman-Fried has been accused of orchestrating "a years-long fraud" to divert funds from his FTX cryptocurrency exchange to pay debts at his other company, Alameda Research. The latter is a crypto hedge fund that he was also in control of. According to court filings, prosecutors estimate Bankman-Fried defrauded more than one million customers. The crypto businessman was arrested in the Bahamas, where he fled after stepping down on December 12 as CEO of the company. He was then extradited at the request of US authorities, and released last month on a $250 million bond, with his criminal trial set to begin on October 2. If convicted, Bankman-Fried faces a prison sentence of up to 115 years. The founder of the collapsed crypto empire himself has pleaded not guilty to the charges against him.
https://sputnikglobe.com/20230103/former-ftx-ceo-sam-bankman-fried-pleads-not-guilty-to-federal-fraud-charges---reports-1106018906.html
https://sputnikglobe.com/20230118/ftx-recovered-55-billion-in-assets-but-missing-415-million-in-hacked-crypto-1106442725.html
americas
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2023
News
en_EN
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
two mystery sponsors, helped post bail, bailing out of jail, ex-ceo of collapsed crypto-empire ftx, sam bankman-fried, unnamed sponsor posted $500,000, another bail sponsor contributed $200,000, bail backers
two mystery sponsors, helped post bail, bailing out of jail, ex-ceo of collapsed crypto-empire ftx, sam bankman-fried, unnamed sponsor posted $500,000, another bail sponsor contributed $200,000, bail backers
Mystery Sponsors Helped Bail Disgraced Ex-FTX CEO Sam Bankman-Fried Out of Jail
Sam Bankman-Fried, the former CEO of cryptocurrency firm FTX, indicted in December in what prosecutors have described as one of the biggest financial fraud cases in US history, was released last month on a $250 million bond while legal proceedings against him continue.
Sam Bankman-Fried, the founder of
collapsed cryptocurrency exchange FTX, has managed to stay of jail thanks to hefty contributions from two anonymous sponsors, according to a court filing.
Bankman-Fried, who is facing convictions on a generous buffet of
fraud charges, is currently awaiting trial in a Manhattan federal court, residing under house arrest at his parents' California home. One of the two unnamed sponsors posted $500,000, with the other posting $200,000 towards guaranteeing the alleged fraudster's
$250 million bond, settled in December, 2022. Besides these two bail backers, the bond was also secured by Bankman-Fried's parents, who offered their Palo Alto home, estimated to be worth $4 million, as collateral.
Details about the contributors
were disclosed by Christian Everdell, one of Bankman-Fried's defense attorneys, to be subsequently included in the bail condition documents by US District Judge Lewis Kaplan.
Earlier in January, some media outlets urged the judge overseeing the case to unseal the names of the two backers, arguing that there was "no dispute" it would be in the public interest. However, Bankman-Fried's lawyers have insisted on secrecy to guarantee their "privacy and safety." The legal team pointed to how Bankman Fried's parents were allegedly exposed to threats and harassment for their financial role in bailing their son out.
3 January 2023, 20:07 GMT
Sam Bankman-Fried
has been accused of orchestrating "a years-long fraud" to divert funds from his FTX cryptocurrency exchange to pay debts at his other company, Alameda Research. The latter is a crypto hedge fund that he was also in control of. According to court filings, prosecutors estimate Bankman-Fried defrauded more than one million customers.
The crypto businessman was arrested in the Bahamas, where
he fled after stepping down on December 12 as CEO of the company. He was then extradited at the request of US authorities, and released last month on a $250 million bond, with his criminal trial set to begin on October 2. If convicted, Bankman-Fried faces a prison sentence of up to 115 years. The founder of the collapsed crypto empire himself has pleaded not guilty to the charges against him.
18 January 2023, 02:32 GMT
