Sam Bankman-Fried Transferred to New Prison Facility
Former cryptocurrency magnate Sam Bankman-Fried is being transferred from the Brooklyn jail where he has been held for the past nine months, according to a spokesperson for Bankman-Fried. The exact destination of the transfer remains unclear, but it is believed that he is being moved to Mendota, California. This location is roughly two and a half hours from his parents’ residence near Stanford University.
Mendota hosts a medium-security federal correctional institution and an adjacent minimum-security satellite facility, as noted on the Bureau of Prisons’ website.
Bankman-Fried had requested to stay in New York to prepare for his appeal against multiple federal charges of fraud and conspiracy. He was sentenced to 25 years in prison in March after being found guilty of orchestrating what prosecutors described as one of the largest financial frauds in U.S. history. The charges stemmed from his involvement in the collapse of FTX, his cryptocurrency exchange, which declared bankruptcy in late 2022 after it was revealed that billions of dollars had been misappropriated from customers.
The Bureau of Prisons did not provide specific details about the transfer, citing security concerns and their policy of not commenting on the conditions of confinement for individuals.
