Sam Bankman-Fried faces up to 115 years in prison if convicted of the FTX cryptocurrency scam.

Sam Bankman-Freed may be sentenced 115 years of imprisonment If you are convicted of all charges against you, including massive fraud, while building your cryptocurrency empire FTX.

The charge came when Bankman-FriedThe 30-year-old appeared in court in the Bahamas and said he was fighting an extradition request from the US. The request for release on bail was not granted Waiting to hear.

Founder of the platform FTXwho was arrested on Monday in the Bahamas on a plea USAfaces a series of accusations, including from regulators Wall Streetwhich, as they say, was deliberately built by a businessman “A house of cards based on deception”.

According to the document released by the agency Southern District Attorney’s Office In New York, Bankman-Fried has been charged with eight counts of wire fraud, money laundering and violating campaign finance laws by the attorney general’s office for the Southern District of New York, which sought her arrest and extradition on Monday.

The Alameda Study It was an investment firm created by Bankman-Fried himself, in which he allegedly used billions of dollars from FTX clients to make risky trades without their knowledge.

Criminal charges brought by the New York State Attorney’s Office are the greatest threat Bankman-Friedwho faces a long prison term for thousands of millions dollars involved.

Jail authorities Bahamas Islands He confirmed this on Wednesday Sam Bankman-Freed He is in the prison with five other men in the maximum security unit Nassau.

“It’s a shock for any prisoner to come from home and be in a dormitory or a cell, but I saw him, I spoke to him last night and he seemed to be in good spirits,” he told the media. Doan ClearyChief of the Bahamas Correctional Service.

Clear emphasized that Bankman-Fried will not receive special treatment Remanded pending his extradition hearing on February 8, 2023 at the Bahamas Department of Corrections, formerly known as HMP Fox Hill.

Embarrassed young financier at present under medical supervision To assess your health status and dietary needs.

“Bankman-Fried has a special health condition and once the evaluation is complete we will see how that goes, but in terms of special treatment, no inmate in the Bahamas Department of Corrections is given special treatment,” Clear emphasized.

then Refusal to grant bail on grounds of access to “significant financial resources”Chief Magistrate Joanne Ferguson-Pratt ordered that she undergo a medical assessment on arrival and be allowed to take prescribed medication.

The lawyers in the bail application Bankman-Fried Notifying the court that the defendant is vegan and suffers Depression, Insomnia i disorder For more than ten years of attention deficit disorder.

“We have vegetarians, yes we doClear said when asked if the correctional facility could adapt to the Bankman-Fried diet.

In this context, Clear added that officials are likely to contact the Bankman-Fried family so that they Bring food that suits your special diet.

US politics shaken by the fall of a generous donor

But there are also accusations against A political dimension: One of them accuses him of “committing a crime in the United States in violation of federal laws relating to the preparation, receipt, and reporting of contributions, donations, or expenditures made in federal elections, although he does not mention which candidates he directed. His donations.”

According to various news reports, Bankman-Fried sponsored both Democratic and Republican candidates. However, in the case of the Democrats, he did it openly, and in the case of the Republicans, he did it with signatures on the screen.

similarly, Bankman-Fried is facing another lawsuitin this case by the United States Securities and Exchange Commission (SEC), which accuses him of orchestrating fraud against investors.

FTX filed for bankruptcy on November 11 And at the end of the same month, the company’s new managers appeared for the first time before the bankruptcy court of the state of Delaware (USA) to start the restructuring process.

A platform that has been appreciated 32000 million dollarsmay have more One million lenders worldwideor So far, the company has admitted It has more than 3000 million dollars in debt to its top 50 lenders.

However, Bankman-Fried partly blames the bankruptcy on the massive sell-off in cryptocurrencies that occurred earlier in the year. This sale halved the guarantee for the founder of the company FTXAbout 30,000 million dollars.

At that point, according to Bankman-Fried, the selloff of cryptocurrencies continued, along with the credit crunch and the “flight to the bank,” which reduced collateral to 9,000 million before. FTX declared bankruptcy.

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