The Wall Avenue Journal printed an replace on the jail residing situations of Sam Bankman-Fried, FTX’s co-founder and ex-CEO, on Nov. 23.
The newspaper mentioned 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 mentioned 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 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 remedy 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 assessment of authorized paperwork, although his pc use is restricted to a devoted room with divider desks.
Bankman-Fried’s spokesperson, Mark Botnick, advised the newspaper that the previous FTX govt is doing the “greatest he can below the circumstances.”
Bankman-Fried concerned in jail financial system
The Wall Avenue Journal moreover mentioned that Bankman-Fried is buying and selling mackerel packets with different inmates in trade for providers. He reportedly traded an unknown quantity of mackerel for a haircut previous to his trial in November.
Mackerel packets — that are individually value about $1.30 — grew to become a de facto jail forex after federal smoking bans eradicated cigarettes as a viable various. (By the way, one other former cryptocurrency convict, Charlie Shrem, has previously commented on the economics of jail mackerel buying and selling.)
Bankman-Fried has additionally supplied recommendation relating to cryptocurrency funding to guards, in accordance one of many Wall Avenue Journal’s unnamed sources.
SBF will probably be moved after sentencing
Bankman-Fried is at the moment housed within the Metropolitan Detention Heart, Brookyln, which is infamous for its poor situations. He will probably be transferred to a federal jail to serve his full sentence. There, he’ll seemingly obtain better freedom of motion, higher academic and leisure sources, and firm with much less violent jail inhabitants, based on a jail marketing consultant cited by the Wall Avenue Journal.
Bankman-Fried has been convicted, however has not but been sentenced, for his function in FTX’s fraud. His sentencing is about for March 28, 2024 following a second trial that may deal with prices of marketing campaign finance fraud and bribery of Chinese language officers.
Bankman-Fried’s present most sentence is 115 years in jail, although some specialists have urged he will probably be imprisoned for 25 years or less.
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