Sam Bankman-Fried, a former CEO of FTX who is facing criminal charges that could land him in prison for the rest of his life, could be released on US bail before his trial. Reuters reported on December 21.
Attorney Nicholas Roos has reportedly proposed giving Bankman-Fried, commonly known as SBF, bail on the terms of $250 million bail, house arrest, home surveillance and the surrender of his passport.
The New York Times revealed that the bond had been approved for Bankman-Fried, who will live with his parents in Palo Alto, California. His parents paid the bond with the equity in their home.
Bankman-Fried previously said that after the company he founded went bankrupt and he resigned as CEO, he only had $100,000 in his bank account.