Coin

<ul class="news-points">
 <li>Sam Bankman-Fried, transferred to a California prison while appealing his 25-year conviction for fraud and money laundering.</li>
 <li>The transfer process for Bankman-Fried is expected to be slow, taking over a month.</li>
 <li>Bankman-Fried’s legal team appeals his 25-year sentence and $11 billion forfeiture.</li>
</ul>
Sam Bankman-Fried, the disgraced founder of the now-defunct cryptocurrency exchange FTX, is set to be transferred to a new prison as he prepares an appeal to overturn his conviction.
Wall Street Journal <a href="https://www.wsj.com/finance/currencies/sam-bankman-fried-ftx-founder-mendota-prison-california-e8447913" target="_blank" rel="noopener noreferrer nofollow">reports</a> Bankman-Fried is likely to be moved to a medium-security facility in California. However, the exact location of the prison remains undisclosed.
The transfer process is expected to be slow, potentially taking over a month. This delay is partly due to a recommendation by the judge who presided over Bankman-Fried’s trial, suggesting that he should stay incarcerated in New York to facilitate access to his appellate counsel. Despite this recommendation, the decision has been made to relocate him.
Bankman-Fried was sentenced to <a href="https://coinedition.com/breaking-sbfs-shocking-jail-photo-revealed-crypto-empire-in-turmoil/" rel="noopener noreferrer nofollow">25 years in prison</a> and ordered to forfeit $11 billion after being convicted on seven counts, including fraud, conspiracy, and money launder…
The post <a href="https://coinedition.com/bankman-fried-moves-to-new-facility-while-fighting-ftx-conviction/" rel="noopener noreferrer nofollow">Bankman-Fried Moves to New Facility While Fighting FTX Conviction</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Bankman-Fried Moves to New Facility While Fighting FTX Conviction

Coin Edition

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