Beautiful Virgin Islands

Saturday, Sep 06, 2025

Sam Bankman-Fried to be released on record $250M bond, placed under house arrest

Sam Bankman-Fried to be released on record $250M bond, placed under house arrest

FTX founder Sam Bankman-Fried was released on $250 million bond and placed under house arrest at his parents' Palo Alto home after a Manhattan judge signed off on a deal that saw him voluntarily leave the Bahamas to face a slew of US fraud charges.
Sam Bankman-Fried, the disgraced former cryptocurrency executive, was granted release from custody on Thursday by a federal magistrate judge who imposed highly restrictive bail conditions including a $250 million bond and a requirement that he remain in home detention with his parents in California.

The appearance in Federal District Court in Manhattan came just hours after Mr. Bankman-Fried, 30, arrived in the United States following his extradition from the Bahamas, where he was arrested at a luxury apartment complex on Dec. 12 and held in a local jail.

Under the bail arrangement, Mr. Bankman-Fried will live with his parents in Palo Alto, Calif., under strict electronic monitoring, including a bracelet that will be placed on him before he leaves the courthouse.

The $250 million personal recognizance bond — a written promise to appear in court as needed — will be secured by his parents’ interest in their home, the judge said. He was also required to surrender his passport and to receive mental health and substance abuse treatment. Any expenses above $1,000 would require prior approval by the government.

The judge, Gabriel W. Gorenstein, warned Mr. Bankman-Fried that if he failed to appear in court or violated any of the other conditions, a warrant would be issued for his arrest and he and his parents would be responsible for paying the hefty bond.

Asked whether he understood, Mr. Bankman-Fried responded, “Yes, I do,” the only words he uttered in the hearing, which lasted less than an hour.

Discussions about a bail deal had begun even before Mr. Bankman-Fried was extradited. In court on Thursday, the deal was formally proposed by the U.S. prosecutors in the Southern District of New York who brought the charges against Mr. Bankman-Fried.

Mr. Bankman-Fried was escorted into court wearing a dark suit and was seated between his two lawyers, Mark Cohen and Christian Everdell.

Mr. Cohen argued that Mr. Bankman-Fried was not a flight risk. “My client voluntarily consented to come to face these charges here in New York,” he told the judge. “He wants to address them.”

Nicolas Roos, an assistant U.S. attorney, said Mr. Bankman-Fried had committed crimes of “epic proportions” and that the case against him involved multiple cooperating witnesses, as well as encrypted text messages and tens of thousands of pages of financial records. But he noted that Mr. Bankman-Fried had “family and communities ties” and that his wealth had “diminished significantly.”

“It would be very difficult for this defendant to hide without being recognized,” Judge Gorenstein said. “So I believe that the risk of flight is appropriately mitigated.”

Mr. Bankman-Fried has been charged with two counts of wire fraud and six counts of conspiracy related to securities and commodities fraud, money laundering and violating the campaign finance laws.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Trump Threatens Retaliatory Tariffs After EU Imposes €2.95 Billion Fine on Google
Tesla Board Proposes Unprecedented One-Trillion-Dollar Performance Package for Elon Musk
US Justice Department Launches Criminal Mortgage-Fraud Probe into Federal Reserve Governor Lisa Cook
Escalating Drug Trafficking and Violence in Latin America: A Growing Crisis
US and Taiwanese Defence Officials Held Secret Talks in Alaska
Report: Secret SEAL Team 6 Mission in North Korea Ordered by Trump in 2019 Ended in Failure
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Florida Murder Case: The Adelson Family, the Killing of Dan Markel, and the Trial of Donna Adelson
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Big Tech Executives Laud Trump at White House Dinner, Unveil Massive U.S. Investments
Tether Expands into Gold Sector with Profit-Driven Diversification
‘Looks Like a Wig’: Online Users Express Concern Over Kate Middleton
Brand-New $1 Million Yacht Sinks Just Fifteen Minutes After Maiden Launch in Turkey
Here’s What the FBI Seized in John Bolton Raid — and the Legal Risks He Faces
Florida’s Vaccine Revolution: DeSantis Declares War on Mandates
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
"The Situation Has Never Been This Bad": The Fall of PepsiCo
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
The Fashion Designer Who Became an Italian Symbol: Giorgio Armani Has Died at 91
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Queen Camilla’s Teenage Courage: Fended Off Attempted Assault on London Train, New Biography Reveals
Scottish Brothers Set Record in Historic Pacific Row
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
Court of Appeal Allows Asylum Seekers to Remain at Essex Hotel Amid Local Tax Boycott Threats
Germany in Turmoil: Ukrainian Teenage Girl Pushed to Death by Illegal Iraqi Migrant
United Krack down on human rights: Graham Linehan Arrested at Heathrow Over Three X Posts, Hospitalised, Released on Bail with Posting Ban
Asian and Middle Eastern Investors Avoid US Markets
Ray Dalio Warns of US Shift to Autocracy
Eurozone Inflation Rises to 2.1% in August
Russia and China Sign New Gas Pipeline Deal
China's Robotics Industry Fuels Export Surge
Suntory Chairman Resigns After Police Probe
Gold Price Hits New All-Time Record
Von der Leyen's Plane Hit by Suspected Russian GPS Interference in an Incident Believed to Be Caused by Russia or by Pro-Peace or by Anti-Corruption European Activists
UK Fintechs Explore Buying US Banks
Greece Suspends 5% of Schools as Birth Rate Drops
Apollo to Launch $5 Billion Sports Investment Vehicle
Bolsonaro Trial Nears Close Amid US-Brazil Tension
European Banks Push for Lower Cross-Border Barriers
Poland's Offshore Wind Sector Attracts Investors
Nvidia Reveals: Two Mystery Customers Account for About 40% of Revenue
Woody Allen: "I Would Be Happy to Direct Trump Again in a Film"
×