The Nassau, Bahamas, courthouse where FTX founder Sam Bankman-Fried appeared after his arrest on December 13, 2022
A judge ordered Sam Bankman-Fried remanded to the Bahamas’ only prison on Tuesday.
Fox Hill is known to be overcrowded and have unsanitary conditions, per human rights reports.
Bankman-Fried appeared disappointed in court following the judge’s decision, according to reports.
Sam Bankman-Fried is headed to a harsh Bahamian prison after a magistrate judge on Tuesday ordered him remanded to custody until February and denied the former FTX CEO bail following his Monday arrest in the country on US fraud charges.
Authorities in the Bahamas detained Bankman-Fried this week, acting on a request from US officials. A federal criminal indictment unveiled on Tuesday charged Bankman-Fried with multiple counts, including wire fraud, money laundering, and campaign finance violations, related to the collapse of one of the largest crypto exchanges earlier this year.
While he awaits…
This article was written by [email protected] (Erin Snodgrass) and originally published on www.businessinsider.com