Sam Bankman-Fried Requests to Stay in Brooklyn Prison Amid Appeal Process

Former FTX CEO, Sam Bankman-Fried, seeks permission to remain at Brooklyn's Metropolitan Detention Center during his appeal.

Bankman-Fried's Appeal Process Sparks Request to Stay in Brooklyn Prison

Following his recent sentencing to 25 years in federal prison, Sam "SBF" Bankman-Fried, the former CEO of FTX, has made a request to the court. In an April 8 filing, Bankman-Fried's legal team asked Judge Lewis Kaplan to allow him to stay at the Metropolitan Detention Center in Brooklyn. The request is aimed at facilitating access to his appellate counsel as he prepares to challenge his conviction and sentencing.

Before the sentencing on March 28, Bankman-Fried's attorney had already expressed the intention to appeal the seven felony counts against him. While no filing has been made yet in the U.S. Court of Appeals for the Second Circuit, legal experts speculate that Bankman-Fried's sentence could potentially be reduced based on good behavior during his time in prison.

Initial Prison Location Decision and Potential Motives

Initially, Judge Kaplan ruled that Bankman-Fried would serve his sentence in a medium- or low-security prison in the San Francisco Bay Area, likely due to the proximity of his family. However, Bankman-Fried's legal team is now seeking permission for him to remain in the Brooklyn prison. The request suggests the importance of easy access to appellate counsel during the appeal process.

Before his bail was revoked in August 2023, Bankman-Fried spent most of his time confined to his parents' home in California near Stanford University. This decision to stay in Brooklyn, if approved, would enable him to maintain continuity in his legal representation and potentially expedite his appeal.

Co-Defendants and Sentencing Schedule

Bankman-Fried stands out as one of the few individuals associated with the collapse of FTX and Alameda Research who pleaded not guilty and opted for a trial. In contrast, others involved in the same case, such as Caroline Ellison, Gary Wang, Nishad Singh, and Ryan Salame, pleaded guilty and accepted plea deals.

Salame is scheduled to be sentenced on May 28, while the timing of court appearances for Wang, Ellison, and Singh remains uncertain. Additionally, Changpeng Zhao, who pleaded guilty to one felony count in a separate case involving Binance cryptocurrency exchange, is set to be sentenced on April 30.