FTX founder Sam Bankman-Fried agreed to sign a $250 million bond at a Manhattan court which would get him bail and keep him under house arrest at his parent’s home in Palo Alto, California, while he awaits trial on charges that he defrauded investors on his FTX trading platform.
The 30-year-old cryptocurrency entrepreneur was asked for a $250 million bond by Assistant US Attorney Nicolas Roos, who believes it to be the largest federal pretrial bond ever. According to him, the entrepreneur “performed a fraud of epic proportions.” Bankman-Fried has been accused by federal prosecutors of stealing billions of dollars in client funds to cover losses at his hedge fund, Alameda Research.
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FTX founder Sam Bankman-Fried agreed to sign a $250 million bond at a Manhattan court which would get him bail and keep him under house arrest at his parent’s home in Palo Alto, California, while he awaits trial on charges that he defrauded investors on his FTX trading platform.
The 30-year-old cryptocurrency entrepreneur was asked for a $250 million bond by Assistant US Attorney Nicolas Roos, who believes it to be the largest federal pretrial bond ever. According to him, the entrepreneur “performed a fraud of epic proportions.” Bankman-Fried has been accused by federal prosecutors of stealing billions of dollars in client funds to cover losses at his hedge fund, Alameda Research.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
