#SambankmanFried

  1. According to updated information from the Federal Bureau of Prisons, Sam Bankman-Fried, the former CEO of the suspended cryptocurrency exchange FTX, has been transferred to a federal prison in Victorville, California.

    This step represents the first chapter in Bankman-Fried's journey to serve his 25-year prison sentence for orchestrating one of the most serious financial frauds in US history.

    After being convicted of embezzling more than $8 billion in client assets, he was held at the Metropolitan Detention Center (MDC) in Brooklyn, an urban detention center known for housing high-profile detainees, before being briefly transferred via a federal transfer center in Oklahoma.

    Now, Bankman-Fried finds himself in Victorville Medium Security Prison II, one of two medium-security prisons in the small desert city of Victorville, northeast of Los Angeles.

    Prison counselors and former inmates have described the prison environment at Victorville as harsher than his previous prison.

    A 2014 report by the District of Columbia Corrections Information Board noted incidents of gang violence and even fatal assaults at the prison.

    While the Federal Bureau of Prisons has not confirmed whether the Victorville prison will be Bankman-Fried's permanent residence, the nature of the facility and his status as a convicted prisoner suggest this may be his long-term residence.