Sam Bankman-Fried expected to be released 4 years early: report

The U.S. Bureau of Prisons has estimated that former FTX CEO Sam Bankman-Fried will be released in December 2044, four years earlier than his original 25-year prison sentence. According to a report by Business Insider, the former FTX CEO is now expected to be freed from prison by December 14, 2044. Bankman-Fried was initially sentenced to 25 years of imprisonment after he was charged for seven counts of fraud and conspiracy by a Manhattan jury in March 2024. However, his original sentence is poised to be reduced to 21 years. The reduction reportedly comes from good behavior credits, participation in prison programs, and the time he spent in pre-sentencing detention. At press time, Business Insider tried to reach out to a lawyer representing Sam Bankman-Fried for comment, but has not received a respond. According to the report, a spokesman for the Bureau explained that inmates’ release dates are calculated based on good behavior, also known as “Good Conduct Time.” The BOP representative explained that people serving prison time can earn 54 days for each year of their sentence. You might also like: Apple and A24 have a Sam Bankman-Fried biopic in the works Not only that, prisoners can also get time shaved off their sentence by participating in certain programs offered in the prison. In addition, individuals could also receive credit for being incarcerated before the date of sentencing. This applies to Sam Bankman-Fried, considering he had his bail revoked and was imprisoned two months before his trial, after he revealed to a journalist several personal writings belonging to his ex-girlfriend and former Alameda CEO Caroline Ellis. On the other hand, the BOP estimates Ellis will be released in May 2026. This is still in accordance with her initial sentence, which was two years. Earlier in April this year, Bankman-Fried was transferred from notoriously violent facility dubbed “Victimville” to a considerably less dangerous, low-security prison in California. Although the reason for the transfer was not revealed, his lawyers had previously requested for their client to be moved to a low-security prison, citing Bankman-Fried’s autism and lack of a criminal record as the underlying reasons. Read more: Sam Bankman-Fried moved to low-security prison after nearly two weeks in ‘Victimville’

Source: crypto.news