Former FTX boss appears in US court on fraud charges
Former FTX boss Sam Bankman-Fried will face home detention while awaiting trial in the US on charges that he defrauded customers and investors of the collapsed cryptocurrency exchange.
of unlawfully using customer deposits made at FTX to fund his other crypto firm, Alameda Research, buy property and make millions of dollars in political donations. Mr Bankman-Fried spent nine days in prison in the Bahamas, weighing his choices before telling the Nassau magistrates' court on Wednesday that he would not fight extradition,At Thursday's court hearing in New York, assistant US Attorney Nick Roos said prosecutors would not oppose releasing Mr Bankman-Fried on bail, despite a "fraud of epic proportions", pointing to his decision to return to the US voluntarily and his much diminished financial state.
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