Here’s where Sam Bankman-Fried will be under house arrest
Sam Bankman-Fried is staying at mom and dad’s while spending his time under house arrest, following a record-breaking $250 million bond.
The home?
A cozy residence on the edge of Stanford University’s campus in Palo Alto, California.
Joseph Bankman and Barbara Fried, who are Stanford Law professors, purchased the home in 1992 for about $700,000 — some $1.5 million in today’s dollars — records show.
The home is estimated to be worth more than $4 million today.
Made up of four bedrooms and three baths, the home briefly hit the rental market in June 2013 for nearly $14,000 per month. By the end of the year, the home was up for rent asking a slightly less $12,000 a month.
It was taken off the rental market in January 2014.
Standing on a nearly 1-acre lot, the home was built in 1917 and is considered part of the Palo Alto Stanford Heritage, dedicated to the preservation of Palo Alto’s historic buildings.
Spanning some 3,000 square feet, features include a dining room with a white brick fireplace, an updated kitchen with an expansive island, a large living area — also with a fireplace — and walls of windows.
The outdoors are surrounded by palm trees, a gated pool and an expansive lawn.
American novelist David Leavitt grew up in the house just before the Bankman-Frieds took over.
US District Judge Gabriel Gorenstein signed off on the deal Thursday, allowing the disgraced FTX founder and ex-CEO to leave New York for his home state.
Bankman-Fried, 30, who left his Bahamian oasis on extradition, is staring down a slew of charges, which carry a sentence of up to 115 years.
The entrepreneur is accused of wire fraud, securities fraud, conspiracy, money laundering and campaign finance violations. Federal charging documents accuse him of defrauding investors out of a whopping $1.8 billion.
While awaiting a federal trial, the fallen crypto king will be fitted with an ankle monitor.
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