Sam Bankman-Fried will not be able to hang out at any of the 285 million dollars worth of luxury Bahamian real estate he and his company allegedly purchased.
No, he was denied bail, which means he will be held in a detention center in the Bahamas where prisoners deal with rodents and a lack of toilets.
The disgraced 30-year-old was in a courtroom in the Bahamas for the first time since he drove FTX into the ground, racing it into bankruptcy last month.
Chief Magistrate Joyann Ferguson-Pratt ordered that SBF be denied bail and remanded to the Bahamas Department of Correctional Services until February 8.
His accommodations will not be pleasant; He will be held in the jail’s medical department. Here’s a quote from the Bahamian Commissioner of Correctional Services, Dan Clear.
“He will be in sick bay for orientation purposes and then we will determine where best to place him. The facilities, most of them, have been renovated. We have one more to go, and we don’t have any issues with rodents.”
Okay. So no rats. That’s a small win.
A prison cell has a good chance of being Bankman-Fried’s permanent home. He’s been charged with a handful of crimes, including fraud, money laundering, and violating campaign finance laws. He was the second-largest private donor to Democrat and progressive political candidates, with only George Soros spending more.
There are so many juicy and unbelievable details being revealed now that congress is getting involved with the FBI and Justice Department, including the fact that the multi-billion dollar company used a simple Quick Books program to monitor their finances.
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