FTX Founder and Democrat Super Donor Sam Bankman-Fried Denied Bail in the Bahamas

Disgraced FTX founder and Democrat Super Donor Sam Bankman-Fried has reportedly been denied bail and will be held at the Bahamas’ notorious Fox Hill prison where conditions have been described as dangerous and cramped.

CoinDesk reports that a judge in the Bahamas has ruled that FTX founder and former CEO Sam Bankman-Fried should be held in custody and not granted bail.

Magistrate Judge Joyann Ferguson-Pratt in the Bahamas has scheduled an extradition hearing for FTX founder and former CEO Sam Bankman-Fried for February 8, 2023. Bankman-Fried’s attorneys had requested that he be released on $250,000 bail, citing his need for regular access to allergy medication and a vegan diet. Earlier in the day, police had escorted his parents to his home in Albany to retrieve Adderall.

Bankman-Fried testified earlier this week that he uses Emsam patches for depression and takes 10mg of Adderall every four hours. During the hearing, prosecutors in the Bahamas argued that releasing Bankman-Fried on bail would violate a treaty with the U.S., which requires defendants to be held in custody during extradition proceedings. Bankman-Fried told the judge that he would not waive his right to contest the extradition, indicating that he may try to stay in the Bahamas.

Judge Ferguson-Pratt denied Bankman-Fried’s bail application, citing concerns that his apartment in the Bahamas and potential loss of cash bond would not be sufficient to prevent him from fleeing.

Ferguson-Pratt said: “It’s a subjective test, and it depends on how much one is willing to lose. I am of the view that the risk of flight is so great that Mr. Bankman-Fried ought to be remanded to custody.”
Bankman-Fried reportedly slumped over at the news, holding his head in his hands. It is reported that Bankman-Fried will be held at Fox Hill prison in the Bahamas, which is notorious for its poor living conditions, often described as dangerous and cramped. Locals speaking to CoinDesk say that the prison is overcrowded with as many as six people in one cell.

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