The FTX founder is allowed to live with his parents for the amount of 250 million dollars.
(Photo: AP)
new York The founder of the bankrupt crypto exchange FTX, Sam Bankman-Fried, has been allowed to spend time at his parents’ home in Palo Alto, California, on bail of $250 million.
He also had to give up his passport and would be placed under strict surveillance while he was under house arrest. The US broadcaster CNBC and other media reported the result of a hearing in New York’s Southern District Court on Thursday.
The 30-year-old was extradited from the Bahamas to the United States on Wednesday, where he was arrested on December 12 at the request of the US authorities. The US Securities and Exchange Commission has accused Bankman-Fried of misleading investors with false promises and embezzling their funds. It’s about more than 1.8 billion US dollars (more than 1.7 billion euros), he faces a long prison sentence.
More: FTX founder Bankman-Fried under pressure – closest colleagues plead guilty
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