Workers install security cams outside Sam Bankman-Fried’s family home
Workers were spotted installing security cameras outside the $4 million California home where disgraced FTX founder Sam Bankman-Fried is staying while on house arrest.
The workers put up the cameras surrounding Bankman-Fried’s parents’ home on the edge of Stanford University’s campus in Palo Alto on Monday.
The fallen crypto king was granted permission in Manhattan federal court last week to serve out his house arrest in California while he awaits a federal trial after he was released on a record-breaking $250 million bond.
He is facing a slew of charges including wire fraud, securities fraud, conspiracy, money laundering and campaign finance violations after he allegedly defrauded investors out of $1.8 billion.
On Friday, personnel from a private security company were seen outside Bankman-Fried’s parents’ house — just a block from the Stanford University campus where they are both law professors.
Bankman-Fried, 30, must wear an ankle monitor and can only leave the five-bedroom, three-bathroom house for exercise and mental health and substance abuse treatment.
He’s also banned from making any non-sanctioned payments over $1,000 with the exception of legal fees.
Assistant US Attorney Nicolas Roos on Thursday said Bankman-Fried “perpetrated a fraud of epic proportions” by allegedly swindling investors and pocketing customer deposits on his FTX trading platform for himself as the site crumbled.
The alleged crypto grifter is staring down a sentence of up to 115 years. He is due back in court on Jan. 3.
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