The Wall Avenue Journal printed an replace on the jail residing circumstances of Sam Bankman-Fried, FTX’s co-founder and ex-CEO, on Nov. 23.
The newspaper stated that Bankman-Fried has been positioned in a dormitory with Juan Orlando Hernández, a former Honduran president who’s awaiting trial over acceptance of bribes from drug traffickers. Each look like on good phrases: Hernández’s lawyer stated that the 2 inmates have held “cordial conversations.”
Additionally in the identical unit is Genaro García Luna, a former head of police in Mexico who was just lately convicted of serving to cartels smuggle cocaine into the U.S.
The Wall Avenue Journal added that Bankman-Fried’s difficulties in accessing vegetarian meals and ADHD medicine in jail have been resolved.
It famous that Bankman-Fried is allowed to see non-attorney vistors as soon as every week. He has additionally been granted entry to a particular laptop computer for the overview of authorized paperwork, although his pc use is restricted to a devoted room with divider desks.
Bankman-Fried’s spokesperson, Mark Botnick, informed the newspaper that the previous FTX govt is doing the “greatest he can underneath the circumstances.”
Bankman-Fried concerned in jail economic system
The Wall Avenue Journal moreover stated that Bankman-Fried is buying and selling mackerel packets with different inmates in trade for companies. He reportedly traded an unknown quantity of mackerel for a haircut previous to his trial in November.
Mackerel packets — that are individually price about $1.30 — grew to become a de facto jail forex after federal smoking bans eradicated cigarettes as a viable different. (By the way, one other former cryptocurrency convict, Charlie Shrem, has beforehand commented on the economics of jail mackerel buying and selling.)
Bankman-Fried has additionally offered recommendation concerning cryptocurrency funding to guards, in accordance one of many Wall Avenue Journal’s unnamed sources.
SBF will likely be moved after sentencing
Bankman-Fried is presently housed within the Metropolitan Detention Heart, Brookyln, which is infamous for its poor circumstances. He will likely be transferred to a federal jail to serve his full sentence. There, he’ll doubtless obtain higher freedom of motion, higher academic and leisure assets, and firm with much less violent jail inhabitants, in keeping with a jail advisor cited by the Wall Avenue Journal.
Bankman-Fried has been convicted, however has not but been sentenced, for his position in FTX’s fraud. His sentencing is about for March 28, 2024 following a second trial that can deal with expenses of marketing campaign finance fraud and bribery of Chinese language officers.
Bankman-Fried’s present most sentence is 115 years in jail, although some consultants have advised he will likely be imprisoned for 25 years or much less.
