FTX founder Sam Bankman-Fried was denied bail by a judge in the Bahamas on Tuesday.
Sam Bankman-Fried was arrested in the Bahamas on Monday and charged with 8 counts of money laundering and fraud.
Billions are still ‘missing’ from Sam Bankman-Fried’s collapsed Ponzi scheme.
Bankman-Fried on Tuesday told the magistrate he couldn’t go to jail because he’s a vegan and depressed.
The judge denied his bail and he was marched to an overcrowded jail.
According to the New York Post, the correctional facility SBF was taken to, Fox Hill Prison, is infested with rats and maggots.
Bankman-Fried is facing 115 years in prison.
The New York Post reported:
Fallen crypto billionaire Sam Bankman-Fried is being held in a Bahamian jail known to be overrun with rats and maggots — one so bad that a warden has called it “not fit for humanity.”
The accused fraudster, once estimated to be worth $32 billion, is being held in the island’s only correctional facility, Fox Hill Prison, until at least Feb. 8 after failing to get bail while fighting against extradition to the US.
The jail was the focus of a damning report last year by the US Department of State into possible human rights violations, including violence and abuse by staff.
“Inmates removed human waste by bucket,” the government report noted of the jail where often six inmates are crammed into tiny cells that are only 6 feet by 10 feet.
“Some inmates developed bedsores from lying on bare ground,” the report said of “harsh” conditions from “overcrowding, poor nutrition, inadequate sanitation, and inadequate medical care.”
“Sanitation was a general problem, and cells were infested with rats, maggots, and insects,” the State Department noted.