Sam Bankman-Fried Denied Bail

December 15, 2022

The disgraced founder of FTX, Democrat super-donor Sam Bankman-Fried has been denied bail and will remain "at the Bahamas’ notorious Fox Hill prison where conditions have been described as dangerous and cramped."

CoinDesk initially broke the news on this story, reporting that a judge has determined that Bankman-Fried should be held in custody. Magistrate Judge Joyann Ferguson-Pratt has scheduled an extradition hearing for February 8, 2023. Bankman-Fried's attorneys tried to get him out on $250,000 bail, citing his "need for regular access to allergy medication and a vegan diet."

Earlier that day, Bankman-Fried's parents had been escorted to Sam's home in order to retrieve his Adderall.

Bankman-Fried testified that he needs "Emsam patches for depression and takes 10mg of Adderall every four hours."

Prosecutors in the Bahamas argued that "releasing Bankman-Fried on bail would violate a treaty with the U.S., which requires defendants to be held in custody during extradition proceedings."

Judge Ferguson-Pratt agreed:

It’s a subjective test, and it depends on how much one is willing to lose. I am of the view that the risk of flight is so great that Mr. Bankman-Fried ought to be remanded to custody.