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. 

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. 

Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.