Funviralpark Workers have been spotted installing security cameras outside the $4 million California home where FTX founder Sam Bankman-Fried is staying under house arrest.
Workers set up cameras around Bankman-Fried’s parents’ home on the edge of Stanford University’s campus in Palo Alto on Monday.
After being released on a record $250 million bond last week, the fallen cryptocurrency mogul was given permission to serve under California house arrest in a Manhattan federal court pending a federal trial.
He faces numerous charges including wire fraud, securities fraud, conspiracy, money laundering and campaign finance violations after allegedly defrauding investors of $1.8 billion.
A private security firm was spotted outside Bankman-Fried’s parents’ home on Friday. He’s just a block from the Stanford University campus where both are law professors.
Bankman-Fried, 30, must wear an ankle monitor and can only leave her five-bedroom, three-bathroom home for exercise, mental health, and substance abuse treatment.
He is also prohibited from making unauthorized payments exceeding $1,000, except for attorney fees.
Assistant U.S. Attorney Nicholas Roos said on Thursday that Bankman-Fried tricked investors into pocketing customer deposits on his FTX trading platform when the site went down, resulting in a “magnificent scale.” I committed fraud,” he said.
Suspected cryptogrifters face prison terms of up to 115 years. He is scheduled to return to court on January 3rd.
