• Sam Bankman-Fried is being transferred to a new prison in Mendota, California
• He sought to stay in New York while helping to prepare his appeal
• Federal officials overrode his wish to remain in New York for the appeal process
Sam Bankman-Fried was sentenced to 25 years in prison for committing what prosecutors called one of the largest financial frauds in US history. Federal officials began the process of transferring Bankman-Fried to a new prison early Wednesday, overriding his wish to stay in New York while helping to prepare his appeal.
Details on Bankman-Fried’s Transfer
The spokesman for the jailed FTX founder said he couldn’t confirm Bankman-Fried’s destination, but people familiar with the matter said the founder of the cryptocurrency exchange was told in recent days that he would be moved to a federal correctional facility in Mendota, Calif.
Bankman-Fried Wanted to Stay in New York
Bankman-Fried wished to stay in New York while helping to prepare his appeal. However, federal officials overrode this and began the process of transferring him to the facility in California on Wednesday.
Conclusion
The transfer comes despite Bankman-Fried’s preference to remain in New York as he worked on his appeal for the 25-year prison sentence he received for financial fraud related to the collapse of the FTX cryptocurrency exchange he founded.
