Sam Bankman-Fried (SBF), the founder of the bankrupt cryptocurrency exchange FTX, was found guilty by a jury on all seven counts earlier this month after a one-month trial of the century. The judge will formally sentence SBF on March 28 next year. of sentence.
Although he faces a maximum sentence of 115 years in prison for financial felonies such as money laundering and fraud, legal experts generally estimate that SBF will be sentenced to 20 to 25 years in prison and will not be released from prison until he is in his 50s.
SBF Secrets of Prison Life
The Wall Street Journal reported on SBF’s life in prison yesterday (23rd). Sources familiar with the matter revealed that SBF, who is still being held in the Brooklyn Metropolitan Detention Center awaiting trial, had an affair with former Honduras President Juan Orlando Yernandez. Hernandez and former Mexican Public Security Minister Genaro García Luna were inmates who shared a cell.
Yernandez was extradited to the United States to stand trial last year on suspicion of accepting millions of dollars in bribes from drug cartels, while Luna was also extradited to the United States on similar charges and sentenced to 20 years in prison at the beginning of the year. It is said that SBF got along well with the two inmates, and Yernandez's defense lawyer revealed that his client had cordial conversations with SBF.
Prison economy: "Mackerel" is more practical than fiat currency and cryptocurrency
Prison consultant Bill Baroni said that SBF also learned the basic principles of prison economics in prison. Before his trial, he exchanged several bags of Mackerel convenience bags with an inmate for haircut services, spending about $4 on "Mackerel". Currency", a pack of mackerel convenience packs now costs about $1.30.
In fact, after smoking was banned in most U.S. prisons, a meal-packet of pickled mackerel has replaced cigarettes as the most popular currency among inmates for trading each other's goods and services . According to Charlie Shrem, the founder of the Bitcoin trading platform BitInstant, who was imprisoned for money laundering, he shared his experience that mackerel is one of the best sources of protein, with a shelf life of several years. The price is relatively stable among all prisons in the United States, and it is also popular among immigrants. It is also easy to take away while in prison, so it is widely loved by inmates.
Baroni also said that when SBF is sentenced next year and is officially transferred to federal prison, he should take away his mackerel bag because "the mackerel currency system is obviously much more stable than cryptocurrency."
Provide crypto tips to guards
In addition, SBF lawyers previously reported to the judge that it was difficult for SBF to obtain a vegan diet in prison. He could only live on peanut butter, bread and water, and was unable to obtain sufficient doses of antidepressants. He requested that SBF be released from the detention center, but was unsuccessful. The judge refused.
Sources familiar with the matter said SBF's medication and food issues have been resolved and he has been given a "vegetarian" diet in detention. He was also allowed to meet with non-lawyer visitors once a week and use a special laptop provided by prosecutors to view legal information about him. The former cryptocurrency golden boy also provided relevant information to the detention center guards. Cryptocurrency investment advice.
Extended reading: SBF lies in jail and recalls the mansion with sea view! Judge pleads for mercy: Can you give me more antidepressants?
Bail motion rejected by court again
The current signs are that SBF is gradually adapting to life in prison. Although he asked the judge for bail again this month, it was rejected by the appeals court again this week. He is expected to be unable to leave the detention center until he is convicted and transferred to a federal prison in March next year. .
However, prison consultant Bill Baroni also pointed out that once SBF is transferred to a federal prison, his quality of life in prison should improve because "he will be leaving a facility with the most violent people and will have access to more education." and entertainment, and gain more freedom of movement.”
