In March, Sam Bankman-Fried was sentenced to 25 years in prison for committing what prosecutors called one of the largest financial frauds in U.S. history.
Federal officials began the process of transferring Sam Bankman-Fried to a new prison early Wednesday, overriding his wish to stay in New York while helping to prepare his appeal, according to a spokesman for the jailed FTX founder. The spokesman said he couldn’t confirm Bankman-Fried’s destination, but people familiar with the matter said the founder of the cryptocurrency exchange was told in recent days that he would be moved to a federal correctional facility in Mendota, Calif.
In April, his lawyers requested that he be allowed to stay at the Metropolitan Detention Center in Brooklyn while helping to prepare briefs for his appeal. In the longer run, his team had pushed for Bankman-Fried to serve his sentence in California, so he could be closer to his parents’ home near Stanford University.
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