Sunday, February 21, 2021

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Sheriff’s deputies, campus police and private security closed roads with barrier barriers throughout the area Thursday afternoon to thwart curious onlookers. Bankman-Fried, 30, who was back in the US after his extradition from the Bahamas, is facing a slew of federal charges, including wire fraud, conspiracy and money laundering carrying a sentence of up to 115 years in prison. A Stanford campus police vehicle was seen outside the home, where the accused cryptocurrency fraudster will be spending his time with mom and dad, both law professors. Disgraced FTX founder Sam Bankman-Fried was spotted early Friday arriving at his parents’ Palo Alto, California, home where he will remain under house arrest after being released on a record $250 million bond. The bail conditions also require that Bankman-Fried not open any new lines of credit, start a business or enter financial transactions larger than $1,000 without the approval of the government or the court. Bankman-Fried’s parents bought their cozy four-bedroom, three-bath home in 1992 for about $700,000 — close to $1.5 million in today’s money — records show.

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Roos proposed strict bail terms including the $250 million bond — which he said is believed to be the largest federal pretrial bond ever. Bankman-Fried appeared in Manhattan federal court Thursday, when a judge signed off on a deal allowing the former CEO to be released on a $250 million bond and be placed under house arrest with an ankle monitor. The “personal recognizance bond” was to be secured by the equity in Bankman-Fried’s parents’ home and the signature of them and two other financially responsible people with considerable assets, Roos said.

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