FTX co-founder Sam Bankman-Fried is escorted out of the Magistrate’s Court on December 21, 2022 in Nassau, Bahamas.
Joe Raedle | Getty Images
FTX founder Sam Bankman-Fried shall be released on $250 million bail in a deal designed by federal prosecutors and Bankman-Fried’s defense attorneys, a Latest York federal judge ruled on Thursday.
Bankman-Fried was indicted within the Southern District of Latest York on eight counts including securities fraud and money laundering. Judge Gabriel Gorenstein said that Bankman-Fried would require “strict” supervision following his release to his parents’ home in California.
His parents, each Stanford Law professors, were present within the courtroom. Bankman-Fried was flanked by two U.S. Marshals, wearing a suit and tie.
Bankman-Fried’s parents would put up the equity of their home to partially satisfy bail conditions. As a part of the discharge, Bankman-Fried could be released into the custody of his parents home.
Bankman-Fried had previously claimed that he was all the way down to a mere $100,000.
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