The 30-year-old made his first appearance in a US court to face fraud charges over the FT collapse
Founder of Cryptocurrency Exchange FTX Free on $250 Million Bail Sam Bankman-Fried.
The 30-year-old made his first appearance in a US court in New York to face fraud charges related to the collapse of FTX. He will be under house arrest at his parents’ home in Palo Alto, California.
At a later date he will appeal the charges of fraud and other offences, the judge said.
Judge Gabriel Gorenstein said the risk of Bankman-Fried fleeing was low, adding that he did not pose a risk to the public in terms of future financial crimes.
His ex-girlfriend Sam Bankman – Frid and the co-founder of FTX have pleaded guilty to fraud charges in the cryptocurrency exchange’s collapse and are cooperating with federal prosecutors, US officials announced Wednesday night.
Caroline Ellison, 28 (pictured below), a former managing director of Bankman-Fried’s hedge fund Alameda Research, and Gary Wang, 29, pleaded guilty to the criminal offenses before Bankman-Fried moved to New York to face the charges he is facing, announced Damian Williams, the U.S. Attorney for the Southern District of New York.
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