FTX Fraudster Sam Bankman-Fried Being Transferred to New Prison

Sam Bankman-Fried is being relocated to a new prison, likely in California, as he works on an appeal to overturn charges. The location of the new prison is undisclosed as of early Thursday but is thought to be in California, WSJ said. He is likely to be placed in a medium-security prison. However, the judge who oversaw Bankman-Fried's trial issued an order that recommended he be kept jailed in New York "to facilitate access to appellate counsel." In March, the crypto mogul was sentenced to 25 years in prison and ordered to forfeit $11 billion. He was earlier convicted of seven counts of fraud, conspiracy, and money laundering.

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