Bloomberg reports that FTX crypto exchange co-founder Sam Bankman-Fried has been sent to an Oklahoma temporary detention cell, even though a federal court had requested that he remain in New York to aid with his appeal.
The move is part of Bankman-Fried’s strategy for dealing with the fallout from his conviction for FTX fraud.
Sam Bankman-Fried is now incarcerated in the Federal Transfer Center in Oklahoma City, as mentioned on the Bureau of Prisons website, according to the article. While he was a prisoner at Brooklyn’s Metropolitan Detention Center last year, he spent a lot of time getting ready for trial.
“Until his appeal has been properly prepared to permit access to appellate counsel,” Judge Lewis Kaplan advised on Wednesday, after sentencing Bankman-Fried to 25 years in jail.
Sam Bankman-Fried, who had previously stated his desire to challenge the verdict, made his formal objection to the judgment at the tail end of April, which is rather unusual.
He attacked the legal firm Sullivan & Cromwell—which was defending the new owners of FTX—in an interview he gave after his conviction, expressing his displeasure with the fairness of his trial.
Disgraced FTX co-founder claimed company officials conspired with prosecutors and blocked him from seeing key FTX papers handed over to the prosecution.
Sam Bankman-Fried said that the trial, the defense’s capacity to present positive evidence, and media coverage were all negatively affected by this meddling.
Bankman-Fried is aiming for a lesser sentence and a different conclusion with his formally filed appeal. The prosecution allegedly prevented his defense from presenting crucial material and witnesses, which he stressed as crucial to the case.
Mark Botnick, who spoke on behalf of Bankman-Fried, thanked the court for taking his case into consideration and hoped that the BOP would follow the court’s advice and allow Bankman-Fried to see his appeal lawyer.
The article claims that Sam Bankman-Fried’s sentencing may be revised to move him closer to his family in California. The Oklahoma prison is a transfer center according to the Bureau of Prisons, and it can only house convicts for short stays of four or six weeks at a time.
Compared to Thursday’s pricing, which indicates a little drop of 1%, the current value of the exchange’s native token, FTT, at $1.59, reflects small changes. Still, the token’s price has jumped 12% in the last month, which is rather significant.
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