Sam Bankman-Fried Released on $250 Million Bail

Akansha Gupta
December 22, 2022
Crypto, News
0 Comments

Sam Bankman-Fried was freed on a $250 million bond after making his initial appearance in a US court to face fraud charges related to the collapse of FTX.

A $250 million personal recognisance bond backed by his parents’ California house is part of a bail package.

In an indictment announced Dec. 13, Manhattan federal prosecutors accused Bankman-Fried, 30, of organising a yearlong fraud involving FTX customer funds.

FTX’s failure has echoed throughout the cryptocurrency sector, prompting demands for more regulation and responsibility for crypto exchange leaders.

JUST IN: Sam Bankman-Fried to be placed under house arrest, ordered to surrender passport.
— Watcher.Guru (@WatcherGuru) December 22, 2022

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