FTX founder Sam Bankman-Fried to be released on $250 million bail, will live with his parents
![](data:image/svg+xml;utf-8,<svg xmlns="http://www.w3.org/2000/svg" width="1013" height="541" />)
FTX founder Sam Bankman-Fried was released on $250 million bond while awaiting trial for fraud and other criminal charges, a New York federal judge ruled Thursday.
Bankman-Fried stepped out of U.S. District Court in Manhattan, flanked by his parents, his legal team, and court security at 2:19 local time.https://www.cnbc.com/2022/12/22/ftx-founder-sam-bankman-fried-to-be-released-on-250-million-bail.htm
The terms of his personal recognizance bond were agreed to by prosecutors and Bankman-Fried’s lawyers. The 30-year-old will face his next hearing, presided over by Judge Ronnie Abrams, in New York City on Jan. 3., where he’ll enter his plea and be arraigned.
A recognizance bond is a written commitment from the accused to appear in court when ordered. In return, Bankman-Fried’s camp would not be required to meet the full collateral requirements of the bail.
The bond was secured by equity in his family home, and by the signatures of his parents and two other individuals with “considerable” assets.
3 comments