Judge Allows Sam Bankman-Fried to be Released on $250 Million Bond

FTX founder Sam Bankman-Fried can be released on a $250 million bail and placed on home detention as he awaits trial in a sprawling fraud case, a New York judge ruled on Thursday.

At the request of prosecutors, Manhattan U.S. District Court Judge Gabriel Gorenstein agreed to the bond price and said Bankman-Fried can reside at his parent’s home in Palo Alto, Calif., ahead of the trial, according to The Associated Press.

Bankman-Fried, 30, is expected to be freed on Thursday. He will wear an electronic monitoring bracelet as part of the deal.

Read the source article at thehill.com