FTX Founder Bankman-Fried Allowed $250M Bond, House Arrest

December 22, 2022 2:35 pm

NEW YORK (AP) – A judge says cryptocurrency entrepreneur Sam Bankman-Fried can post $250 million bond and live in his parents’ home in California while he awaits trial. Bankman-Fried is accused of swindling investors and looting customer deposits on his FTX trading platform. He is expected to be released Thursday after an electronic monitoring device is attached. Assistant U.S. Attorney Nicolas Roos said in U.S. District Court in New York 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.