The former FTX CEO and founder of the now-bankrupt cryptocurrency, Sam Bankman-Fried, was arrested a few days and slapped with charges from the Securities and Exchange Commission (SEC).
The FTX founder, commonly called SBF, was arrested by Bahamian law enforcement at the request of the US government. Law enforcement has transferred SBF to Fox Hill correctional center in Nassau until February, according to reports that state a judge denied the FTX cryptocurrency exchange creator bail and ordered him to remain in law enforcement custody until he is extradited to the United States. Notably, SBF has been charged with multiple counts of charges of wire and securities fraud, conspiracy to commit wire and securities fraud, and money laundering.
Now, sources have spoken to Bloomberg and said that SBF isn't very happy with the prison conditions in the Bahamas, which Insider reports are notorious for its harsh conditions. According to these sources, SBF isn't meeting his dietary requirements, and his family members are reportedly calling the prison to request the former FTX CEO is given a vegan diet. Furthermore, SBF lawyers attempted to use the lack of vegan food as well as specific medication being given to SBF as a reason for him to be released on bail, which was priced at $250,000. The bail was denied.
The identity of the person who contacted the prison about providing vegan food for Bankman-Fried was unknown, but his parents, who are Stanford law professors, were present at his hearing in the Bahamas on Tuesday. CoinDesk reported that his mother laughed during the hearing when SBF was referred to as a "fugitive". At the moment, it's not known which member of the Bankman-Fried family rang the Bahamas prison.
According to recent reports, as FTX was facing significant challenges, the company's top lawyers reportedly attempted to take control of the business from former CEO Sam Bankman-Fried. The lawyers sent messages to Bankman-Fried asking him to prepare for bankruptcy and halt exchanges, but he reportedly ignored them. This suggests that Bankman-Fried was unwilling to relinquish control of the company even as it was facing potentially catastrophic problems. If you are interested in reading more about that story, check out this link below.