- A judge denied Bankman-Fried bail due to him being a “great” flight risk.
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“The Justice Department has filed charges alleging that Samuel Bankman-Fried perpetrated a range of offenses in a global scheme to deceive and defraud customers and lenders of FTX and Alameda, the defendant’s crypto hedge fund, as well as a conspiracy to defraud the United States government,” said Attorney General Merrick B. Garland.
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Democrat megadonor Sam Bankman-Fried faces spending the rest of his life behind bars after an eight-count indictment was unsealed Tuesday against him in federal court.
