The former CEO of sham cryptocurrency firm FTX Sam Bankman-Fried has been released on a $250million bail after a deal was struck in a New York City courtroom
US authorities charged Bankman-Fried, who likes to be known by his initials SBF, with ‘one of the biggest financial frauds in US history’ on Tuesday.
Bankman-Fried, 30, faces eight criminal charges including wire fraud, money laundering and conspiracy to fraud as well as civil charges including misleading investors who put more than $1billion into his company. Last week SBF appeared at court in the Bahamas and was held in prison without any bail in the country’s notorious Fox Hill Prison.
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FTX founder Sam Bankman-Fried to be released on $250mn bond\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
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