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Tuesday, June 3, 2025
FTX crypto founder Sam Bankman-Fried thought jail would be ‘like The Shawshank Redemption’: report
Mintz & Gold partner Ira Sorkin discusses whether accused con artist Sam Bankman-Fried’s “loose lips” hurt his criminal case in “The Claman Countdown.”
Sam Bankman-Fried His time in prison in the Bahamas will reportedly be like the classic 1994 film The Shawshank Redemption.
“I thought it would be like Shawshank Redemption.” Infamous FTX Founder the CEO told Forbes in an exclusive interview published Thursday.
The movie starring Morgan Freeman was nominated for seven Academy Awards.
The former billionaire told the publication that he was assigned to the same room as five other inmates in the facility’s clinic and kept away from the public.
Sam Bankman Fried deletes tweet while under house arrest
Sam Bankman-Fried, co-founder of the FTX cryptocurrency derivatives exchange, arrives in New York court on Tuesday, January 3, 2023. (Stephanie Keith/Getty Images/Getty Images via Bloomberg)
Bankman-Fried brings life to life in Fox Hill. I shower with a garden hose, dry myself with a 3″ x 5″ towel, and sleep in “the worst bed imaginable made of cardboard and debris.” of semi-soft plastic on stilts. ”
former head World’s 2nd Largest Cryptocurrency Exchangehe used the suit jacket he wore to appear in court as a pillow.
Bahamas Department of Corrections Fox Hill Prison where FTX co-founder Sam Bankman-Fried was held December 20, 2022 in Nassau, Bahamas. (Joe Raedle/Getty Images/Getty Images)
The 30-year-old made friends with other inmates and never felt unsafe.
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The worst part, he told Forbes, was the lack of internet.
FTX co-founder Sam Bankman-Fried was escorted from a magistrate’s court in Nassau, Bahamas on December 21, 2022. (Joe Raedle/Getty Images/Getty Images)
“I had no idea how much more important Internet access was to me than everything else combined, but it was like 80% of the total cost of being in prison,” he said, occasionally telling newspapers. I pointed out that I have access to
Bankman-Fried claimed he was limited to one 30-minute phone call during his stay, but was allowed daily meetings with lawyers in the Bahamas.
FTX founder Sam Bankman-Fried leaves Manhattan federal court after an arraignment and bail hearing in New York City on December 22, 2022. (Michael M. Santiago/Getty Images/Getty Images)
In December, he waived his right to fight extradition and agreed to return to the U.S. to prosecute. Agreeing to a $250 million bail arrangement, partly backed by his parents’ $4 million California home, he’s currently incarcerated with an electronic ankle. bracelet.he pleaded not guilty Through his attorney, he entered his petition into a series of federal charges he faces for allegedly defrauding customers and investors.
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Bankman-Fried’s trial is scheduled for October 2nd.
Fox Business’s Breck Dumas, Marta Dhanis, and Reuters contributed to this report.
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