Bankman-Fried denied bail, remanded to custody in the Bahamas: Reuters

MarketsDecember 13, 2022, 5:06PM EST
Bankman-Fried denied bail, remanded to custody in the Bahamas: Reuters

Quick Take

  • Sam Bankman-Fried was denied bail and remanded to the custody of the Bahamas Department of Corrections, Reuters said. 
Advertisement

Sam Bankman-Fried is headed to jail after a magistrate judge in the Bahamas denied his bail application and remanded him to the Department of Corrections, Reuters said

The disgraced former CEO of FTX was was deemed a flight risk and will be held until at least Feb. 8 when "the matter resumes." 

Bankman-Fried was slapped with a bevy of charges from the U.S. Department of Justice, Securities and Exchange Commission and the Commodities Futures Trading Commission earlier in the day after being arrested last night.