Federal prosecutors in Manhattan have accused Bankman-Fried of stealing billions of dollars of customer's money to plug losses at his hedge fund, Alameda Research.
His arrest in The Bahamas, where he lived and where FTX is based, cemented the one-time billionaire's spectacular fall from grace.He noted that his parents - both Stanford Law School professors - would co-sign the bond and post the equity in their"My client remained where he was, he made no effort to flee," Cohen said.
He said Bankman-Fried had"achieved sufficient notoriety that it would be impossible" for him to hide without being recognised or engage in further financial schemes.Down to his 'last $100,000' On 11 November, the former"crypto king", as many in the media have labelled him, said he was down to his last $100,000.
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