The new date is Dec 22, 2022, 02:47pmEST.
FTX founder Sam Bankman- Fried is set to be released from federal custody after his attorneys struck a deal with prosecutors on a bail amount of $250 million according to multiple reports.
Sam Bankman- Fried was the CEO of FTX at the time. The picture was taken by Tom Williams/CQ-Roll Call.
Bankman- Fried will be staying at his parents' house.
The $250 million is not secured because his parents will put up equity in their home.
He will plead not guilty to the charges at a later date, despite denying criminal wrongdoing in recent media interviews.
According to CNBC, a federal judge in Manhattan ordered Bankman-Fried to wear an electronic ankle bracelet and not to open new lines of credit over $1,000 while he was awaiting trial.
Bankman- Fried claimed in media interviews that the only remaining asset was a $100,000 bank account.
There will be a court hearing on January 3.
After several days of confusion, Bankman- Fried was extradited to the U.S. from the Bahamas on Wednesday. The company lost billions of dollars in a failed effort to prop up a sister trading firm, which was headed by a woman who was romantically involved with Bankman- Fried. Both Ellison and Gary Wang pleaded guilty to fraud charges relating to FTX's collapse and are cooperating with prosecutors.
Bankman-Fried had a net worth of $26.5 billion, according to Forbes.
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