In a nutshell

  • Sam Bankman-Fried, FTX co-founder and past CEO, has transferred prison.
  • After being moved from a facility that has been referred to as” Victimville,” he is currently in a low-security prison in California.
  • Following the collapse of FTX, Bankman-Fried was found guilty of seven counts of fraud and conspiracy and given a 25-year jail sentence.

Following a halt at the extremely harsh medium-security hospital in Victorville, California, the federal bureau of prisons has transferred FTX co-founder and former CEO Sam Bankman-Fried, according to the company’s criminal registration, to the low-security Federal Correctional Institution Terminal Island in Los Angeles.

An inmate remarked to the Zoukis Consulting Group, which compiles data about various prisons on a website, that” this is a young political garden.” &nbsp,

Another prisoners praised the “excellent food and place,” noted that “it’s by the water” and that there isn’t much violence, and added that there is a “lack of assault.”

That’s a lot different from the Victorville prison, known as” Victimville,” where Bankman-Fried spent nearly two weeks after Keychain moved him from an Oklahoma Transfer Center earlier this month.

SBF, who was defrauded on FTX by entering into a 25-year prison sentence in November 2023, spent more than 18 months at Brooklyn, New York’s Metropolitan Detention Center ( MDC ).

Almost three hours south of Victorville and 45 moments from downtown Los Angeles, Terminal Island is located in the harbor area of San Pedro. More than 900 inmates were residing at the center, which was built in the late 1930s, when ailing criminal Al Capone visited the facility in 1939. Mouli Cohen, the video game businessman, and Anthony Elgindy, a former stockbroker, both of whom were found guilty of fraud and other crimes, may be SBF’s prison buddies. &nbsp,

Bankman-Fried may have access to a showroom account and be able to use up to$ 360 per month. Along with apprenticeships in welding, wiring, tube appropriate, cabinet making, preparing, and baking, the prison offers wellness and cultural programs. One criminal, but, described the dental and medical attention as “horrible.”

That’s a significant shift from Victorville, where violence and fights were reported frequently and where prisoners felt they needed to belong to a certain group for their health.

When Bankman-Fried moved to FCI Terminal Island isn’t quickly known. Decrypt’s investigation into the problem wasn’t immediately answered by The Bureau of Prison. &nbsp,

Bankman-Fried was found guilty of seven counts of fraud, including wire fraud, securities scams, and goods scams. &nbsp,

His move comes as there are indications that the public’s perception of FTX’s collapse has generally faded in the U.S. Regulators have stepped up their restrictions on the sector as a result of the Tump administration’s more crypto-friendly monitoring. &nbsp,

According to his neurological problem and lack of prior criminal record, Bankman-Fried, who is disabled, was moved to a lower-security service by professionals. &nbsp,

Bankman-Fried appealed his conviction last fall, alleging that he was “presumed innocent” prior to the trial’s length of his test. &nbsp,

He is apparently seeking a reprimand from U.S. President Donald Trump with the assistance of his families.

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