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Disgraced FTX co-founder Sam Bankman-Fried has been arrested and faces eight criminal charges.
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Martin Shkreli, who was released from prison in May, advised him on preparing for potential prison time.
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He said on the podcast “Unchained” that Bankman-Fried should shave his head and listen to rap music.
So-called ‘pharmaceutical buddy’ Martin Shkreli tells Sam Bankman-Fried that the disgraced FTX founder should prepare by listening to rap music, lowering his voice and shaving his head advised.
Bankman-Fried, a 30-year-old former billionaire, was arrested in the Bahamas earlier this month and charged with eight counts after the collapse of cryptocurrency exchange FTX. If convicted, he would face up to his 115 years in prison.
Shkreli, who was released from prison earlier this year, said on cryptocurrency journalist Laura Singh’s podcast “Unchained” that Bankman-Fried “wouldn’t be the one to fit in prison.”
“As you know, my advice to him includes shaving his head. My advice to him includes keeping his voice low,” Shkreli said. “Sam is a bit of an effeminate guy, so he’s going to have a lot of problems. His demeanor, some say his autism-like senses and sensibilities aren’t going to do well in prison.”
Shkreli added that these changes in prison “could save your life.”
“He probably shouldn’t say he’s from Stanford or anything,” Shkreli said.
“You can tell he’s from Oakland. I think people would rather hear him lie than hear the truth,” he added. “Even if they knew it was a bit of a lie, he should probably start reinventing his background and history because he’s a rich white kid from a good neighborhood. That story doesn’t sound good.” .”
Bankman-Fried’s charges include wire fraud, collusion in wire fraud, securities fraud, collusion in securities fraud, and money laundering. He was handed over to New York on his December 21st and released the next day on $250 million bail.
He gave up his passport and was ordered to stay at his parents’ home in Palo Alto, California, pending trial. will be submitted.
A former pharmaceutical company CEO, Shkreli earned the nickname “Pharma Bro” after being heavily criticized for raising the price of an AIDS drug from $13 to $750 in 2015.
In 2017, he was found guilty of securities fraud and sentenced to seven years in prison.
He was released from a Pennsylvania state prison in May this year after serving only part of his seven-year sentence and moved to a “community confinement” program, the U.S. Prison Service confirmed to Insider.
He was released from the program in September.
Read the original article on Business Insider
