<\/p>\n
Sam Bankman-Fried, the former CEO of FTX now facing criminal charges that could land him in jail for the rest of his life, may be granted bail in the United States ahead of his trail, Reuters reported Dec. 21.<\/p>\n
Prosecutor Nicholas Roos has reportedly proposed granting Bankman-Fried, often referred to as SBF, bail on the conditions of a $250 million bond, home detention, location monitoring and the surrender of his passport. <\/p>\n
The New York Times reported that SBF\u2019s bail was approved and he will live with his parents in Palo Alto, California. His parents secured his bail with the equity in their house. <\/p>\n
SBF claimed earlier that, after the collapse of the company he founded and his resignation as its CEO, he had only $100,000 in his bank account. <\/p>\n
U.S. Magistrate Judge Gabriel Gorenstein in a federal district court in Manhattan approved the bail proposal, adding that SBF will require \u201cstrict pretrial supervision,\u201d including mental health treatment and evaluation. SBF is known to suffer from depression and takes prescription medications.<\/p>\n
Related:\u00a0SBF received special treatment inside Bahamian jail: Report<\/em><\/strong><\/p>\n His defense counsel stated that SBF has agreed to the terms offered. SBF was not offered bail when he was arrested in The Bahamas at the behest of U.S. authorities on grounds that he presented a flight risk. He returned to the United States in the custody of the FBI on Dec. 20.<\/p>\n SBF one week ago:<\/p>\n \u201cI only have $100k left\u201d<\/p>\n Now he can be released on $250M bail\u2026<\/p>\n No doubt this fraudster will find some hidden billions to pay for his release pic.twitter.com\/0u3D2v5Q3q<\/a><\/p>\n\n