FTX ‘fraudster’ Sam Bankman-Fried makes second pitch for bail

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Accused crypto fraudster Sam Bankman-Fried made another bid for bail Thursday in hopes of getting sprung from a maggot-infested Bahamian lockup.

The application was made after a magistrate judge in the Caribbean country ordered Bankman-Fried remanded pending his potential extradition to the US, a source familiar with the matter told Reuters.

Bankman-Fried was arrested Monday evening in the Bahamas and charged in the Southern District of New York in an eight-count federal indictment, including fraud, money laundering, conspiracy, and campaign finance violations.

He faces a maximum of 115 years in prison if convicted.

It’s unclear what argument Bankman-Fried put forward in his renewed bail application, but a local report said it would be heard on Jan. 17.

An attorney for Bankman-Fried did not immediately return the request for comment.

Sam Bankman-Fried made another bid for bail in hopes of getting out from a maggot-infested Bahamian lockup.
REUTERS

The accused crypto crook is being held at Fox Hill Prison, a notorious lockup that was the subject of a damning State Department report that detailed inhumane conditions at the facility.

“Sanitation was a general problem, and cells were infested with rats, maggots, and insects,” the report states.

A picture of Sam Bankman-Fried.
Bankman-Fried is being held at Fox Hill Prison, a notorious prison that was the subject of a damning State Department report.

A picture of Fox Hill Prison.
The government wrote that inmates are crammed into tiny cells that are 6 feet by 10 feet.


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Bankman-Fried currently faces a maximum of 115 years in prison if convicted.
Bankman-Fried currently faces a maximum of 115 years in prison if convicted.

A picture of Fox Hill Prison.
“Sanitation was a general problem, and cells were infested with rats, maggots, and insects,” the report states.


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“Inmates removed human waste by bucket,” the government wrote, adding inmates are crammed into tiny cells that are 6 feet by 10 feet.

“Some inmates developed bedsores from lying on bare ground,” the report goes on.

Bankman-Fried has signaled he intends to fight extradition to the US, where he’ll have to make a bail application with federal prosecutors in Manhattan.

The US Attorney’s Office, meanwhile, has said they intend to charge Bankman-Fried’s co-conspirators for roles in one of the largest financial frauds in US history.


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