{"id":1784302,"date":"2022-12-22T13:59:51","date_gmt":"2022-12-22T18:59:51","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1784302"},"modified":"2022-12-22T14:03:36","modified_gmt":"2022-12-22T19:03:36","slug":"sam-bankman-fried-to-be-released-to-parents-home-on-250-million-bond","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sam-bankman-fried-to-be-released-to-parents-home-on-250-million-bond\/","title":{"rendered":"Sam Bankman-Fried to Be Released to Parents&#8217; Home on $250 Million Bond"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsam-bankman-fried-to-be-released-to-parents-home-on-250-million-bond%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1784302&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/12\/NMKZUQLRAL5IXCF7ENNDIXFBB4.jpg\" class=\"ff-og-image-inserted\" alt=\"image\"   style=\"display:none\"><\/div>\n<p class=\"default__StyledText-tl066j-0 dowhnV body-paragraph\">NEW YORK \u2014 (AP) \u2014 The cryptocurrency entrepreneur Sam Bankman-Fried can post $250 million bond and live in his parents\u2019 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 Thursday.<\/p>\n<p class=\"default__StyledText-tl066j-0 dowhnV body-paragraph\">Assistant U.S. Attorney Nicolas Roos said in U.S. District Court in Manhattan that Bankman-Fried, 30, \u201cperpetrated a fraud of epic proportions.\u201d Roos proposed strict bail terms, including a $250 million bond and house arrest at his parents&#8217; home in Palo Alto, California.<\/p>\n<p class=\"default__StyledText-tl066j-0 dowhnV body-paragraph\">An important reason for allowing bail was that Bankman-Fried agreed to waive extradition, Roos said.<\/p>\n<p class=\"default__StyledText-tl066j-0 dowhnV body-paragraph\">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.<\/p>\n<p class=\"default__StyledText-tl066j-0 dowhnV body-paragraph\">Bankman-Fried wore a suit and tie in court and sat between his attorneys. Two U.S. marshals sat behind him.<\/p>\n<p class=\"default__StyledText-tl066j-0 dowhnV body-paragraph\">Bankman-Fried, <a href=\"https:\/\/apnews.com\/article\/technology-business-bahamas-united-states-government-1de16cdf7e6956b401e998c34ad1fd11\">arrested in the Bahamas<\/a> last week, was flown to New York late Wednesday after deciding <a href=\"https:\/\/apnews.com\/83360ee8736d2fd3ae8247d8987fe8ef\">not to challenge his extradition<\/a>.<\/p>\n<p class=\"default__StyledText-tl066j-0 dowhnV body-paragraph\">While he was in the air, the U.S. attorney in Manhattan announced that two of Bankman-Fried&#8217;s closest business associates had also been charged and had <a href=\"https:\/\/apnews.com\/article\/technology-business-extradition-nassau-7e63538a7a4e5cbcff8f707fc0aa3ee9\">secretly pleaded guilty.<\/a><\/p>\n<p class=\"default__StyledText-tl066j-0 dowhnV body-paragraph\">Carolyn Ellison, 28, the former chief executive of Bankman-Fried&#8217;s trading firm, Alameda Research, and Gary Wang, 29, who co-founded FTX, pleaded guilty to charges including wire fraud, securities fraud and commodities fraud.<\/p>\n<p class=\"default__StyledText-tl066j-0 dowhnV body-paragraph\">U.S. Attorney Damian Williams said in a video statement that both were cooperating with investigators and had agreed to assist in any prosecution. He warned others who enabled the alleged fraud to come forward.<\/p>\n<p class=\"default__StyledText-tl066j-0 dowhnV body-paragraph\">\u201cIf you participated in misconduct at FTX or Alameda, now is the time to get ahead of it,\u201d he said. \u201cWe are moving quickly, and our patience is not eternal.\u201d<\/p>\n<p class=\"default__StyledText-tl066j-0 dowhnV body-paragraph\">Prosecutors and regulators contend that Bankman-Fried was at the center of several illegal schemes to use customer and investor money for personal gain. He faces the possibility of decades in prison if convicted on all counts.<\/p>\n<p class=\"default__StyledText-tl066j-0 dowhnV body-paragraph\">In a series of interviews before his arrest, Bankman-Fried said he never intended to defraud anyone.<\/p>\n<p class=\"default__StyledText-tl066j-0 dowhnV body-paragraph\">Bankman-Fried is charged with using money, illicitly taken from FTX customers, to enable trades at Alameda, spend lavishly on real estate, and make millions of dollars in campaign contributions to U.S. politicians.<\/p>\n<p class=\"default__StyledText-tl066j-0 dowhnV body-paragraph\">FTX, founded in 2019, rode the crypto investing phenomenon to great heights quickly, becoming one of the world&#8217;s largest exchanges for digital currency. Seeking customers beyond the tech world, it hired the comic actor and writer Larry David to appear in a TV ad that ran during the Super Bowl, hyping crypto as the next big thing.<\/p>\n<p class=\"default__StyledText-tl066j-0 dowhnV body-paragraph\">Bankman-Fried&#8217;s crypto empire, however, <a href=\"https:\/\/apnews.com\/article\/sam-bankman-fried-ftx-crypto-downfall-a2eaec231027dfd9f18426ff8982bbf8\">abruptly collapsed<\/a> in early November when customers pulled deposits en masse amid reports questioning some of its financial arrangements.<\/p>\n<p class=\"default__StyledText-tl066j-0 dowhnV body-paragraph body-copyright\">Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK \u2014 (AP) \u2014 The cryptocurrency entrepreneur Sam Bankman-Fried can post $250 million bond and live in his parents\u2019 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 Thursday. Assistant U.S. Attorney Nicolas Roos said in U.S. District &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1784305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[6962,11056,7176,6542,5458,3790,4116,5007,7231,3819,6912],"class_list":["post-1784302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-the","tag-11056","tag-bankman-fried","tag-bond","tag-bongino","tag-home","tag-million","tag-parents","tag-released","tag-report","tag-sam"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1784302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1784302"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1784302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1784305"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1784302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1784302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1784302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}