Employees were spotted installing security cameras outside the $4 million California home where disgraced FTX founder Sam Bankman-Fried is staying while on house arrest.
The employees put up the cameras surrounding Bankman-Fried’s parents’ home on the sting of Stanford University’s campus in Palo Alto on Monday.
The fallen crypto king was granted permission in Manhattan federal court last week to serve out his house arrest in California while he awaits a federal trial after he was released on a record-breaking $250 million bond.
He’s facing a slew of charges including wire fraud, securities fraud, conspiracy, money laundering and campaign finance violations after he allegedly defrauded investors out of $1.8 billion.
On Friday, personnel from a non-public security company were seen outside Bankman-Fried’s parents’ house — only a block from the Stanford University campus where they’re each law professors.
Bankman-Fried, 30, must wear an ankle monitor and might only leave the five-bedroom, three-bathroom house for exercise and mental health and substance abuse treatment.
He’s also banned from making any non-sanctioned payments over $1,000 apart from legal fees.
Assistant US Attorney Nicolas Roos on Thursday said Bankman-Fried “perpetrated a fraud of epic proportions” by allegedly swindling investors and pocketing customer deposits on his FTX trading platform for himself as the location crumbled.
The alleged crypto grifter is staring down a sentence of as much as 115 years. He’s due back in court on Jan. 3.