Sam Bankman-Fried's life on bail: Armed guards, daily jogs and gawkers
Sam Bankman-Fried has reportedly been leading a decent lifestyle while under house arrest in his parent’s home in Palo Alto — with daily jogs, a security detail, and a couple of in-home visits.
However, it's not exactly a life of endless luxury either. The former FTX CEO is reportedly required to wear an ankle monitor and is only allowed to leave the house under certain circumstances, among other restrictions.
The aforementioned Palo Alto home, located on the border of Stanford University’s campus is understood to be a $4 million property equipped with 5 bedrooms, 3 bathrooms, and a pool according to real estate listings.
The property has had to be barricaded on both ends however, as Bankman-Fried has reportedly faced death threats, while his home has turned into something of a tourist attraction for curious onlookers.
His family is shelling out $10,000 a week for a private security firm, according to a Dec. 27 article from the New York Post.
As part of the Dec. 22 bond agreement, Bankman-Fried is required to wear an ankle bracelet, has been forced to surrender his passport and is also required to seek approval for any transactions in excess of $1,000. He is also not allowed to possess a firearm, any other weapon or “destructive device”.
He is only able to leave the property for exercise and for substance abuse treatment and mental health purposes — something he is understood to have taken up — with multiple reports indicating he has been going for daily jogs with his security detail in tow.
Related: Bankman-Fried may enter plea in NY federal court next week before Judge Lewis Kaplan
While this is still a far cry from the Bahamas penthouse he was previously living in, it still appears far better than the conditions of his cell in Fox Hill prison in The Bahamas.
That being said, some in the crypto community have been vocal about Bankman-Fried’s release on bail, particularly considering he was able to do so without any upfront payment.
SBF will be spending Christmas at home with his parents playing video games rather than locked up in a cell. What kind of justice is that?
— Layah Heilpern (@LayahHeilpern) December 23, 2022Instead, hs parents' property has been put up as security for the record $250 million bond, after Bankman-Fried claimed to only have $100,000 in his bank account following the collapse of FTX.
He’s reportedly already been visited by Michael Lewis, the writer of the popular trading-focused film Big Short who appears to be turning the FTX saga into a movie.
On Dec. 28, cryptocurrency vlogger Tiffany Fong revealed on Twitter she had visited Bankman-Fried in his parent’s home for a "conversation" just the night before.
Fong was one of the first to interview Sam Bankman-Fried after the exchange went bankrupt in November, and the vlogger is expected to write about the meeting after her holiday.
I met with Sam Bankman-Fried last night.I haven’t written anything thoughtful out about our conversation - I’m just sharing because I’m getting some questions about this. I’m still in holiday mode & am visiting family in SF atm, so please be patient.
— Tiffany Fong (@TiffanyFong_) December 28, 2022While Bankman-Fried has denied criminal liability numerous times since the collapse of FTX, he is set to appear in a New York federal court on Jan. 3 and is expected to enter a plea agreement to charges of wire fraud and conspiracy.