Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Sam Bankman-Fried reportedly used pouches of fish as payment for haircut in jail By: FOX Business November 24, 2023 at 12:05 PM EST Jailed FTX founder and convicted fraudster Sam Bankman-Fried reportedly paid another inmate to cut his hair ahead of his trial using packets of mackerel as currency. FTX founder Sam Bankman-Fried, who remains behind bars after being convicted of fraud in connection with the collapse of his crypto empire, reportedly scored a fresh look ahead of his trial by using fish as currency.Citing people familiar with the situation, The Wall Street Journal reported Bankman-Fried paid a fellow inmate at Brooklyn's Metropolitan Detention Center to cut his signature curly locks by trading pouches of mackerel purchased from the facility's commissary.According to the outlet, the fish packets, known as "macks," have replaced cigarettes as the currency of choice at federal prisons after officials banned smoking.Bankman-Fried has been incarcerated since August when a judge revoked his bail for alleged witness tampering. He was found guilty earlier this month on seven federal charges, and his sentencing is slated for March 28.WHAT'S AHEAD FOR SAM BANKMAN-FRIED?Bankman-Fried made headlines at the beginning of the trial when he appeared in court with a cleaned-up look, sporting a trimmed-up coif and a suit after ditching the longer hairstyle and casual clothes he had become known for as CEO at FTX.Prosecutors accused Bankman-Fried, who founded and controlled both FTX and sister hedge fund Alameda Research, of misappropriating and embezzling billions of dollars in FTX customer deposits, scheming to mislead investors and instructing other executives at his businesses to do the same. FTX FOUNDER SAM BANKMAN-FRIED'S BIGGEST FEAR IN JAIL REVEALED BY AUTHORIn the trial, he faced two counts of wire fraud and five conspiracy counts. The charges combined amount to a maximum sentence of 110 years behind bars, but sentencing guidelines may call for far less than that.In addition to the fraud and conspiracy charges, Bankman-Fried is accused of violating campaign finance laws by using FTX customer funds to make billions in political donations through an illegal straw-donor scheme, and for allegedly bribing Chinese officials.GET FOX BUSINESS ON THE GO BY CLICKING HEREA second criminal trial against Bankman-Fried is slated to begin in March. He has pleaded not guilty to all charges against him.FOX Business' Suzanne O'Halloran contributed to this report. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Sam Bankman-Fried reportedly used pouches of fish as payment for haircut in jail By: FOX Business November 24, 2023 at 12:05 PM EST Jailed FTX founder and convicted fraudster Sam Bankman-Fried reportedly paid another inmate to cut his hair ahead of his trial using packets of mackerel as currency. FTX founder Sam Bankman-Fried, who remains behind bars after being convicted of fraud in connection with the collapse of his crypto empire, reportedly scored a fresh look ahead of his trial by using fish as currency.Citing people familiar with the situation, The Wall Street Journal reported Bankman-Fried paid a fellow inmate at Brooklyn's Metropolitan Detention Center to cut his signature curly locks by trading pouches of mackerel purchased from the facility's commissary.According to the outlet, the fish packets, known as "macks," have replaced cigarettes as the currency of choice at federal prisons after officials banned smoking.Bankman-Fried has been incarcerated since August when a judge revoked his bail for alleged witness tampering. He was found guilty earlier this month on seven federal charges, and his sentencing is slated for March 28.WHAT'S AHEAD FOR SAM BANKMAN-FRIED?Bankman-Fried made headlines at the beginning of the trial when he appeared in court with a cleaned-up look, sporting a trimmed-up coif and a suit after ditching the longer hairstyle and casual clothes he had become known for as CEO at FTX.Prosecutors accused Bankman-Fried, who founded and controlled both FTX and sister hedge fund Alameda Research, of misappropriating and embezzling billions of dollars in FTX customer deposits, scheming to mislead investors and instructing other executives at his businesses to do the same. FTX FOUNDER SAM BANKMAN-FRIED'S BIGGEST FEAR IN JAIL REVEALED BY AUTHORIn the trial, he faced two counts of wire fraud and five conspiracy counts. The charges combined amount to a maximum sentence of 110 years behind bars, but sentencing guidelines may call for far less than that.In addition to the fraud and conspiracy charges, Bankman-Fried is accused of violating campaign finance laws by using FTX customer funds to make billions in political donations through an illegal straw-donor scheme, and for allegedly bribing Chinese officials.GET FOX BUSINESS ON THE GO BY CLICKING HEREA second criminal trial against Bankman-Fried is slated to begin in March. He has pleaded not guilty to all charges against him.FOX Business' Suzanne O'Halloran contributed to this report.
