Convicted Crypto Fraudster Sam Bankman-Fried is Being Transferred to New Prison: WSJ

Sam Bankman-Fried, the convicted FTX fraudster, is being moved to a new prison away from New York, the Wall Street Journal reports.

The crypto fraudster is being moved to an undisclosed location thought to be in California, the report stated.

The judge who oversaw Bankman-Fried’s trial issued an order that he be kept jailed in New York “to facilitate access to appellate counsel” but he is now likely to be placed in a medium-security prison.

In March, the founder of the FTX exchange was sentenced to 25 years in prison and ordered to forfeit $11 billion. He was earlier convicted of seven counts of fraud, conspiracy, and money laundering.

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