Sam Bankman Fried’s parents have already been to the Bahamas prison where he is being held

  • Sam Bankman-Fried’s parents visited Fox Hill Prison in the Bahamas on Thursday, reported.
  • Bankman-Fried was arrested on Monday. US federal prosecutors have charged him with eight counts.
  • His parents became entangled with the FTX meltdown and stuck by it.

Sam Bankman-Fred’s parents on Thursday went to the Bahamas prison where their son is being held, according to photos released by

Bankman-Fried, co-founder and former CEO of collapsed cryptocurrency exchange FTX, was arrested in the Bahamas on Monday at the request of US officials. US federal prosecutors charged Bankman-Fried with eight counts, including fraud and conspiracy to commit money laundering.

Bankman-Fried’s lawyers asked a magistrate judge during a court hearing Tuesday in the Bahamas to consider releasing him on $250,000 bail so he could maintain his vegetarian diet and stick to his medication, but the judge refused to release Bankman-Fried bail and sent him back into custody. at Fox Hill Correctional Facility in Nassau until February.

His parents, Barbara Fried and Joseph Bankman, both law professors at Stanford University, became entangled in the collapse of FTX.

Although not named or listed as defendants personally in the filings, the SEC alleged that Bankman-Fried used commingled funds from his Alameda Research hedge fund to purchase “tens of millions of dollars in Bahamian real estate” for himself, parents and executives. others in FTX.

A spokesperson for the couple told the Wall Street Journal that Bankman had been a paid employee at FTX for 11 months, mostly working on charitable projects, though they said Fred was not involved with the company.

Bankman-Fried’s parents have remained close to him since the collapse of FTX. Bankman and Fred attended their son’s hearing in Nassau and the Wall Street Journal reported that they had been in the Bahamas for more than a month. The post reported that they had told friends that they expected their son’s legal bills to catch up on them financially and that Bankman was postponing a semester at Stanford until the spring. posted photos showing Bankman and Fred arriving in Fox Hill on Thursday. Bloomberg reported that under COVID-19 protocols, inmates cannot have visitors. reports that it is unknown if Bankman and Fred actually visited their son at the facility and that they could have just dropped off supplies.

Doan Cleare, acting commissioner of corrections for the Bahamas Department of Correctional Services, previously told Nassau outlet Eye Witness News that officials will likely ask the Bankman-Fried family to bring vegan food, and a source told Bloomberg that his relatives contacted the jail on Tuesday to ask if he He can have vegetarian meals.

Claire told Eye Witness News that Bankman-Fried was in a “high-security sick ward” with five other prisoners and received “no special treatment,” though Bloomberg reported that he had his own room.

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