Sam Bankman-Fried released on $250m bail paid by parents

Former CEO of disgraced FTX exchange Sam Bankman-Fried (SBF) has been released on bail for $250 million paid by his parents. The SBF agreed to meet a long list of conditions to remain free while facing the charges, including mandatory drug abuse and mental health treatment.

On 22 December, reports emerged that the SBF may post a $250 million bond to be released on bail while awaiting trial. Hours later, the disgraced former SBF CEO and his family met the conditions.

SBF extradited to US from Bahamas to face trial, according to sources close to the case cited by Bloomberg on charges Has been released on bail in connection with money laundering, fraud and election campaign finance violations.

A US federal judge agreed to release SBF after his parents paid the $250 million they sought through equity in their Palo Alto home. The SBF has also agreed to abide by the court’s order to remain a free person during the trial.

He can leave his parents’ house only when he wants to exercise. He is not allowed to make financial transactions worth more than $1,000 and has to undergo treatment drug abuse and mental health problems, among other conditions.

On December 21, Caroline EllisonGary Wang, former CEO of Alameda Research and co-founder of FTX, pleaded guilty to federal charges and reached a plea deal with the United States Attorney’s Office for the Southern District of New York.

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