Disgraced FTX Founder Transferred to Lower-Security Prison in Los Angeles
Sam Bankman-Fried, founder of the collapsed crypto exchange FTX, is now serving his sentence at the Federal Correctional Institution (FCI) Terminal Island in Los Angeles. After being transferred from multiple facilities.
Previously held at the Metropolitan Detention Center in Brooklyn, Bankman-Fried was moved to several locations, including a medium-security prison in Victorville. The 33-year-old was sentenced to 25 years for misusing FTX customer funds. With a release date set for December 2044. Despite efforts from his parents to seek clemency. Experts believe a pardon is unlikely.
Clever Robot News Desk 21th April 2025
