Bitrabo Editorial
A recent report from Bloomberg reveals that Sam Bankman-Fried, one of the founders of the FTX crypto exchange, has been moved to a temporary detention center in Oklahoma, contrary to a judge’s request to keep him in New York for his appeal process.
This relocation comes as Bankman-Fried deals with the consequences of being convicted for orchestrating a significant fraud at FTX.
Transfer to Oklahoma
As per the report, Sam Bankman-Fried is currently being housed at the Federal Transfer Center in Oklahoma City, a departure from his previous stay at the Metropolitan Detention Center in Brooklyn, New York, while preparing for his trial last year.
Judge Lewis Kaplan, who handed Bankman-Fried a 25-year prison sentence, suggested that he stay in Brooklyn until his appeal is fully addressed for better access to appellate counsel.
Despite publicly announcing his intention to appeal, Bankman-Fried officially objected to the decision at the end of April, citing concerns about the fairness of the trial and alleging collusion between Sullivan & Cromwell, the law firm representing FTX’s new owners, and the prosecution.
Closer to Family During Sentence
With the appeal underway, Bankman-Fried aims for a reduced sentence, emphasizing the need to introduce crucial evidence and present key witnesses that his defense was allegedly denied during the trial. His spokesman, Mark Botnick, expressed appreciation for the court’s consideration and hoped for BOP to provide access to appellate counsel.
There are possibilities of Sam Bankman-Fried being moved to a facility closer to his family in California to serve the remainder of his sentence, as the Oklahoma center where he is currently held is designed for short-term stays of four to six weeks.
The native token of FTX, FTT, is currently priced at $1.59, showing minor fluctuations with a slight 1% decrease from Thursday’s value but has experienced a significant 12% increase over the last month.
Image source: Bloomberg, Chart source: TradingView.com