FTX Founder Allowed $250M Bond, House Arrest

December 23, 2022 4:20 am

NEW YORK (AP) – Cryptocurrency entrepreneur Sam Bankman-Fried has left Manhattan federal court after his parents signed a $250 million personal recognizance bond. He wore an electronic monitoring bracelet as he rushed to a car Thursday to head with his parents to their California home to await trial. Bankman-Fried is accused of swindling investors and looting customer deposits on his FTX trading platform. Assistant U.S. Attorney Nicolas Roos said that the 30-year-old Bankman-Fried “perpetrated a fraud of epic proportions.” Magistrate Judge Gabriel W. Gorenstein largely agreed to bail terms proposed by lawyers on both sides. Bankman-Fried is scheduled to return to court on Jan. 3.