FTX co-founder Sam Bankman-Fried is back in the US, released on $250 million bail

Sam Bankman- Fried was released from federal custody after he returned to the US. According to the New York Times and CNBC, the co- founder of the failed and allegedly fraudulent FTX was released on $250 million bail, secured by his parent's home, ahead of his trial on eight criminal charges.

Billions of dollars in customer and investor funds are missing, and prosecutors accuse a small circle of insiders at FTX and Bankman-Fried's crypto hedge fund of misuse of the money for themselves.

The 30-year-old, whose net worth had been calculated to be in the billions, will live in San Francisco with his parents and wear an electronic monitoring device. The next hearing for SBF will take place in New York City on January 3rd.

We didn't see any restriction from using computers or the internet, but now that charges have been filed, it would be even more shocking.

After being extradited by the Bahamas, Bankman-Fried was still on his way back to the US when a US attorney announced that the CEO of Almeda Research and the co- founder of F were also extradited. The guilty pleas and charges that the DOJ submitted a few days ago have now been made public, while some information is redacted.

According to prosecutors, SBF directed Wang to create the ability for Alameda Research and executives at the firm to have "carte blanche" access to FTX customer funds that they used for trading, political donations, paying debts. Ellison dipped into the FTX customer funds and manipulated markets to raise the price of FTX's token, which the SEC has deemed a security, according to the lawsuits.

The two pleaded guilty to charges of wire, commodities, and securities fraud.

CAROLINE ELLISON, 28, is charged with and has pled guilty to two counts of conspiracy to commit wire fraud, each of which carry a maximum sentence of 20 years in prison; two counts of wire fraud, each of which carry a maximum sentence of 20 years in prison; one count of conspiracy to commit commodities fraud, which carries a maximum sentence of five years in prison; one count of conspiracy to commit securities fraud, which carries a maximum sentence of five years in prison; and one count of conspiracy to commit money laundering, which carries a maximum sentence of 20 years in prison.

GARY WANG, 29, is charged with and has pled guilty to one count of conspiracy to commit wire fraud, which carries a maximum sentence of 20 years in prison; one count of wire fraud, which carries a maximum sentence of 20 years in prison; one count of conspiracy to commit commodities fraud, which carries a maximum sentence of five years in prison; and one count of conspiracy to commit securities fraud, which carries a maximum sentence of five years in prison.

Last week, we announced charges against Samuel Bankman-Fried for a fraud scheme that contributed to FTX's collapse and for a campaign finance scheme that sought to influence public policy in Washington.