Reported 5 months ago
Federal officials have initiated the process to transfer FTX founder Sam Bankman-Fried to a new prison against his preference to remain in New York to aid in his appeal preparations, as reported by the Wall Street Journal. Bankman-Fried was recently sentenced to 25 years in prison for embezzling $8 billion from customers of the now-defunct FTX cryptocurrency exchange he established, following a jury's conviction on seven fraud and conspiracy charges related to FTX's 2022 collapse, considered one of the largest financial frauds in U.S. history.
Source: YAHOO