Sam Bankman-Fried is returning to a Bahamian prison after demanding to see a copy of his federal indictment.
The FTX founder arrived at Bahamian court in a convoy of police vehicles, heavily guarded, just after 10 a.m. ET.
The move comes just days after he was remanded to the medical unit of Bahamas' notorious Fox Hill Prison.called the conditions at Fox Hill Prison"harsh," citing"overcrowding, poor nutrition, inadequate sanitation, poor ventilation, and inadequate medical care."Sam Bankman-Fried, founder of FTX, is escorted inside of the Magistrate's Court in Nassau, Bahamas, on Monday, Dec. 19, 2022.
Medical care in particular is spotty at the Bahamian prison, the report said. The former billionaire was transported from one of his several multimillion-dollar penthouse homes to the prison last week — though Bankman-Fried was entitled to his own room in the medical wing,Bankman-Fried faces life in federal prison, without the possibility of supervised release, if convicted on just one of eight offenses that prosecutors have charged him with.
His sentence could be reduced by mitigating factors. Trial lawyers and former prosecutors say that, in practice, many white-collar defendants are given lesser sentences than what the guidelines dictate. So, even in large fraud cases, you can see life sentences drastically reduced.
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