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When Sam Bankman-Fried is out on his record-breaking $250 million bond and under house arrest, he will be taking refuge at his parents’ $4 million home on the edge of Stanford University’s campus in Palo Alto, California.
US District Judge Gabriel Gorenstein signed off on the deal Thursday, allowing the disgraced FTX founder and ex-CEO — who is staring down a slew of charges which carry a sentence of up to 115 years — to leave New York for his home state.
Bankman-Fried, 30, is accused of wire fraud, securities fraud, conspiracy, money laundering, and campaign finance violations. Federal charging documents accuse him of defrauding investors out of $1.8 billion.
While awaiting a federal trial, the fallen crypto king will be fitted with an ankle monitor and have to stay at his family residence — just a block from the Stanford campus, where his parents, Joseph Bankman and Barbara Fried, are both law professors.
