FTX Founder SBF Moves to Calmer Terminal Island Facility After Notorious Victorville Stint
Sam Bankman-Fried, the disgraced founder of cryptocurrency exchange FTX, has been transferred to a new federal prison following his stint in one of the countrys most notorious facilities.
The 33-year-old, who was sentenced in March 2024 to 25 years for orchestrating one of the largest financial frauds in history, is now housed at the low-security Federal Correctional Institution (FCI) Terminal Island in Los Angeles.
SBFs Starts New Chapter
The latest transfer comes as a major shift from his previous location, the Victorville Medium II Federal Correctional Institution in California, also known as Victimville for its violent and gang-driven inmate culture. Bankman-Fried had previously been held at Brooklyns Metropolitan Detention Center as well as a transfer center in Oklahoma.
Unlike Victorville, which is notorious for frequent stabbings and a harsh, race-based gang dynamic, Terminal Island offers a far calmer and less volatile environment. Situated along the waterfront in San Pedro, California, the facility reportedly provides inmates with scenic views, better food, and access to a range of programs. Terminal Islands provisions include a law library, wellness initiatives, and vocational training in fields such as plumbing, welding, and cooking.
Inmates at the facility have spoken positively about its relatively low level of violence, with one source noting that the prison is by the water and considered a wannabe political yard.
Legal Fight and Prison Stunt
The shift in Bankman-Frieds surroundings does not signal the end of his legal battles. He continues to appeal his conviction, which includes charges of wire fraud, securities fraud, and commodities fraud, and is actively seeking a pardon from US President Donald Trump.
SBFs attempt to influence public perception includes a high-profile interview with Tucker Carlson, conducted while he was at Brooklyns MDC, which led to immediate backlash and a stint in solitary confinement. Meanwhile, Mark Botnick, a public relations strategist who had been representing the FTX founder, resigned after the stunt.
Terminal Island, which once housed notorious mobster Al Capone, American criminal and cult leader Charles Manson, and LSD advocate Timothy Leary, currently accommodates over 900 inmates, including other convicted fraudsters like video game entrepreneur Mouli Cohen.
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Text source: CryptoPotato
