The cryptocurrency entrepreneur Sam Bankman-Fried can post USD 250 million bond and live in his parents' home in California while he awaits trial on charges that he swindled investors and looted customer deposits on his FTX trading platform, a judge said on Thursday. Assistant US Attorney Nicolas Roos said in US District Court in Manhattan that Bankman-Fried, 30, perpetrated a fraud of epic proportions. Roos proposed strict bail terms, including a USD 250 million bond and house arrest at his parents' home in Palo Alto, California. An important reason for allowing bail was that Bankman-Fried agreed to waive extradition, Roos said. Magistrate Judge Gabriel W. Gorenstein agreed to the bond and also approved the house arrest proposal. He also said Bankman-Fried would be required to get an electronic monitoring bracelet before leaving the Manhattan courthouse. Bankman-Fried wore a suit and tie in court and sat between his attorneys. Two US marshals sat behind him. Bankman-Fried, arrest
from Latest News https://ift.tt/oYNF6TM
via WebMD https://ifttt.com/images/no_image_card.png
ABOUT THE AUTHOR
TEAMS FUN AND FAIR - News N Entertainment is your one-stop destination for the latest news, entertainment updates, and product reviews. From breaking headlines and Bollywood buzz to cricket updates and smart shopping recommendations, we bring you curated content that keeps you informed and entertained. Discover trending news from India Today, explore amazing deals on Amazon products including electronics, home decor, furniture, and fashion accessories, and stay updated with sports highlights
