Sam Bankman-Fried released on $250 million bail

Manhattan court issued such a “Christmas action” SBF will live in the parents' house And also undergo psychiatric treatment. At a hearing, he secured permission to be released on $250 million bail Prosecutor Nicholas Roos called the order “the largest pre-trial bail in history”. He demanded that SBF surrender his passport and remain under house arrest at his parents' residence in California.. Also, according to the documents, he must undergo regular psychiatric treatment and examination. 30-year-old Bankman-Fried arrived in the United States on the eve of the hearing, after agreeing to be extradited from the Bahamas. Unfortunate businessman faces 8 federal charges, including money laundering, wire fraud and securities fraud. Those articles could send him to jail for decades. Prosecutor Roos said at yesterday's hearing that the evidence against Bankman-Fried would consist of testimonies from “many cooperating witnesses” and thousands of pages of written communications.. US Magistrate Judge Gorenstein set the date for the next trial in the Bankman-Freed case on January 3, 2023. Recall that yesterday, two of Fried's former associates agreed to cooperate with the investigation. These are former Alameda CEO Caroline Ellison and former FTX CEO Gary Wang.. In return, Allison was also granted bail.