DodoFinance Breaking News Made For You!
Listen to the audio version of this article below
Sam-Bankman Fried will have to survive until February 2023 in the only prison in the Bahamas. A judge ruled last Tuesday that the former CEO of crypto exchange FTX will remain in custody at least until then and has no chance of buying his freedom. By paying a deposit.
Authorities in the Bahamas Arrest Bankman-Fried Monday, at the request of the United States. The banker was fried suspected including fraud, money laundering and misappropriation of customer assets.
It was early November Bankman-Fried has an estimated net worth of $16 billion. Now all his possessions have been confiscated.
The allegations are all related to the collapse of FTX, one of the world’s largest crypto exchanges. In addition to the FTX exchange, Bankman-Fried also owned Alameda Research, a private investment fund. The U.S. Department of Justice is investigating, among other things, whether assets held by customers at FTX were illegally transferred to Alameda Research.
Bankman-Fried is in a notorious prison in the Bahamas awaiting extradition to the United States
Bankman-Fried is awaiting extradition to the United States. Until then he must spend his days at the infamous Fox Hill prison in the Bahamas. A prison report Crowded and unsanitary.
The Bahamas is known for its high number of individual prisoners. Currently there are 409 people in prison for every 100,000 people.
As Fox Hill is the only prison in the Bahamas, the prison is overcrowded. As a result, living conditions are not ideal.
Prisoners are supposed to be allowed to go outside for an hour a day, but overcrowding and lack of prison staff sometimes make this impossible. As a result, some get out for only half an hour a week, lawyer Romona Farquharson told the business newspaper. Wall Street Journal.
Fox Hill has several wards, including a separate section for women. There are also different levels of protection. Prisoners with short sentences for non-violent offenses should in principle be housed in separate wards.
But here, too, overpopulation and the associated lack of space come into play. This means, for example, that dangerous prisoners who should be in a high-security ward end up among other prisoners waiting for a place in the ward where they actually are.
A step Human Rights Statement 2021 US State Department Detainees to Dispose of Human Excrement in Buckets at Fox Hill Additionally, they have pressure sores from sleeping on the floor for long periods of time.
According to the report, inmates have to deal with rat infestations, worms and vermin in prisons. Those cells measure only one-and-a-half meters to three meters in a block with maximum security in place. Up to six inmates share these cells, with no mattresses or toilets.
Prisoners also do not have enough food. According to them, they get few nutritious food and sometimes it takes a long time to get fresh food. The inmates also state that they received no medical or psychological assistance during their stay at Fox Hill.
The report showed that guards were unable to adequately isolate inmates infected with COVID-19.
The news agency reported Reuters Banker-Fried was disappointed when he heard the verdict in court on Tuesday. The news agency described him bowing his head and hugging his parents after the judge said he was too high a flight risk.
A judge in the Bahamas sentenced him to prison on the island. A local official told Reuters that he would first be placed in a medical ward there.
read more: Fallen crypto star Sam Bankman-Fried instantly added cash to a motley collection of companies, from a maker of military drones to a fertility clinic.
“Explorer. Devoted travel specialist. Web expert. Organizer. Social media geek. Coffee enthusiast. Extreme troublemaker. Food trailblazer. Total bacon buff.”
