| FTX
Bankman-Fried
Free on $250
Million Bond
to Palo Alto
Home of
Parents Unlike
Others
By Matthew
Russell Lee, Patreon Maxwell
book
SDNY COURTHOUSE,
Dec 22, 2022 –
Sam
Bankman-Fried
of FTX was
indicted in
the U.S.
District Court
for the
Southern
District of
New York,
leading to his
arrest in the
Bahamas on
December 12, and
extradition to
the US on
December 21.
Late on December
21, the US
Attorney's
Office issued
a video
announcing
that SBF was
"in FBI
custody and
will be
transported
directly to
the Southern
District of
New York."
The US
Attorney's
Office also
released the
plea
agreements (signed
December 19) of Caroline
Ellison of Alameda
(on Inner City
Press'
DocumentCloud here)
and of Gary
Wang - on
Patreon here.
On
December 22
when
Bankman-Fried
was presented
and released
on $250
million bond,
Inner City
Press live
tweeted,
thread here:
All
rise!
Assistant
US Attorney
Nick Roos:
Defendant
consented to
extradition
and was
transported by
the FBI. He
arrested in
the US in this
district last
night, in
Westchester.
Magistrate
Judge Gabriel
W.
Gorenstein:
Have you seen
this
indictment?
Defense
counsel: Yes,
and we waive
the public
reading. Judge
Gorenstein:
The indictment
will be at a
later date.
Assistant
US Attorney
Nick Roos: If
he had
resisted, we
would have
opposed
release. But
his assets
have
diminished.
This is a
financial
crime and he
no longer
works for FTX
or Alameda. So
risk to the
community is a
marginal
consideration.
We propose a
restrictive
bail package
AUSA:
We believe
this is the
highest ever
pre-trial
bond. That's
our proposal.
Judge
Gorenstein: Go
ahead. AUSA
Roos: A $250
million bond,
signed by
defendant and
his parents,
and a non
family member,
secured by the
parents' home,
where he will
live, in Palo
Alto
Defense
counsel: I'd
like to
emphasize, my
client
voluntarily
consented to
come face
these charges
in NY.
Extradition
can take
months or
years in the
Bahamas.
Defense
counsel: His
parents are
Stanford
professors. We
ask that you
accept
release.
Judge
Gorenstein:
This
individual has
no prior
criminal
history of any
time, and
strong ties to
this country;
his family
lives here.
There's no
record of
violence. He
is a citizen.
This is a
first arrest
Judge
Gorenstein:
The defendant
has achieved
sufficient
notoriety it
would be
impossible for
him to
continue
financial
transactions -
this notoriety
also goes to
risk of
flight. He
would be
recognized. So
I am going to
permit
release...
Judge
Gorenstein:
The non parent
signatures by
January 5, the
security
interest in
the home by
January 12.
Cohen:
For the next
conference
before
District Judge
Abrams on
January 3, my
client will
want to attend
virtually.
Judge
Gorenstein:
Mr.
Bankman-Fried,
if you violate
the
conditions, a
warrant will
be issued for
your arrest.
Do you
understand?
Bankman-Fried:
Yes I do.
Judge
Gorenstein: We
are adjourned.
ried, et
al., 22-cr-673
(Abrams).
***
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