FTX Co-Founder Sam Bankman-Fried Transferred To New Detention Center, Details

According to a Bloomberg report, Sam Bankman-Fried, the co-founder of the FTX crypto exchange, has been transferred to a temporary detention center in Oklahoma, contrary to a federal judge’s request to keep him in New York to assist in his appeal. 

The move comes as Bankman-Fried navigates the aftermath of his conviction for orchestrating a significant fraud at FTX.

Sam Bankman-Fried Transferred To Oklahoma 

According to the report, Sam Bankman-Fried is currently housed at the Federal Transfer Center in Oklahoma City, as stated on the Bureau of Prisons website. He spent much of last year preparing for his trial while incarcerated at the Metropolitan Detention Center in Brooklyn, New York. 

Judge Lewis Kaplan, who sentenced Bankman-Fried to 25 years in prison, recommended on Wednesday that he remain in Brooklyn “until his appeal has been fully briefed to facilitate access to appellate counsel.”

Curiously, Sam Bankman-Fried, who had publicly announced his intention to appeal the conviction, officially objected to the decision at the end of April. 

In a post-conviction interview, he voiced concerns about the fairness of his trial and specifically targeted Sullivan & Cromwell, the law firm representing FTX’s new owners. 

The disgraced FTX co-founder accused the firm of colluding with the prosecution and impeding his access to crucial FTX documents shared with the prosecution. 

Sam Bankman-Fried asserted that this interference had a “detrimental impact” on the trial, including media coverage and the defense’s ability to present favorable evidence.

Closer To Family While Serving Sentence? 

With the appeal now officially filed, Bankman-Fried seeks a different outcome, hoping for a reduction in his sentence. He emphasized the importance of introducing vital evidence and presenting key witnesses, which he claims his defense was denied the opportunity to do during the trial. 

Mark Botnick, a spokesman for Bankman-Fried, expressed gratitude for the court’s consideration and hoped that the Bureau of Prisons (BOP) would abide by the court’s recommendation to grant Bankman-Fried access to his appellate counsel.

According to the report, Sam Bankman-Fried may eventually be transferred to a prison closer to his family in California to serve the remainder of his sentence. The Oklahoma facility, classified as a transfer center by the Bureau of Prisons, is designed to hold inmates for a limited period of four to six weeks.

The native token of the exchange, FTT, is currently valued at $1.59, reflecting marginal fluctuations compared to Thursday’s price, indicating a minor decrease of 1%. Nevertheless, the token has demonstrated a noteworthy 12% price appreciation over the last month.

Featured image from Bloomberg, chart from TradingView.com