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Former FTX Leader Sam Bankman-Fried Jailed in Notorious Brooklyn Facility

Sam Bankman-Fried, ex-FTX CEO, is detained in a renowned Brooklyn detention center amid controversies surrounding his bail and ongoing trial.

Thu, 17 Aug 2023, 05:45 am UTC

Sam Bankman-Fried, once at the helm of FTX, finds himself in a challenging situation as he spends his third night at Brooklyn's Metropolitan Detention Center, known for its less than ideal conditions. This represents a stark contrast to his earlier days, where he was under house arrest at his parents' luxurious Stanford residence valued at $4 million, replete with five bedrooms and a swimming pool.

Judge Lewis Kaplan, during a hearing on August 11, decided against Bankman-Fried's bail, suggesting the detention center is hardly considered a top-notch facility. The Metropolitan Detention Center, catering to individuals of all genders under federal custody, is currently accommodating over 1,500 inmates. However, its intended capacity is just 1,000.

The upcoming two months or more will see Bankman-Fried in this facility as he anticipates his criminal trial. However, his legal team is actively working on an appeal against the decision to rescind his bail.

The reputation of the Metropolitan Detention Center precedes itself. It's no stranger to controversies, especially those surrounding the mistreatment of inmates and alleged corrupt practices. Just a couple of years ago, in 2019, the then-warden, Cameron Lindsay, labeled the facility as one of the most problematic within the Bureau of Prisons.

Bankman-Fried's bail being annulled can be traced back to an incident involving a diary from former Alameda Research CEO, Caroline Ellison. The diary, which detailed her sentiments towards Bankman-Fried and her tenure at the company, somehow made its way to The New York Times. Authorities believe it was Bankman-Fried's attempt to undermine Ellison, a key witness for his upcoming trial. However, his attorneys rebuffed these claims, asserting that he was merely exercising his right to respond to an already developing story. They remain steadfast in their decision to challenge the judge's verdict on his bail.

TokenPost | [email protected]

TokenPost | [email protected]

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