FTX Founder Bankman-Fried To Be Released on a $250 Million Bond Package While He Awaits Trial

Sam Bankman-Fried will be released on a $250 million bond package while he awaits trial on fraud charges related to the collapse of the FTX crypto exchange, a federal magistrate judge said on Thursday. From a report: Prosecutors have accused him of stealing billions of dollars in FTX customer funds to plug losses at his hedge fund, Alameda Research. Nicolas Roos, a prosecutor, told U.S. Magistrate Judge Gabriel Gorenstein that the bail package included home detention and location monitoring. Bankman-Fried will also have to surrender his passport. Bankman-Fried's defense counsel said he agreed with these conditions.

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