Former FTX CEO Sam Bankman-Fried could spend up to two months in the country’s Fox Hill Prison, a facility with reported cases of physical abuse against prisoners and harsh conditions.
Authorities in the Bahamas reportedly remanded Bankman-Fried to the medical wing of Fox Hill following a Dec. 13 hearing. SBF’s counsel said he had been taking medication prior to his arrest, including Adderall and anti-depressants, but it’s unclear if the former CEO will serve his time at the correctional facility.
According to a 2021 human rights report from the U.S. State Department, conditions at Fox Hill were harsh. Investigations determined that the facility was overcrowded, prisoners had poor nutrition, and there was inadequate sanitation and medical care. The report also alleged cases of physical abuse by correctional officers.
Bankman-Fried will likely remain in custody in the Bahamas until February as extradition proceedings with the United States move forward. The former FTX CEO faces charges from the Justice Department, Commodity Futures Trading Commission, and Securities and Exchange Commission related to defrauding investors and lender.
Many in the crypto space had been calling for Bankman-Fried’s arrest following FTX’s liquidity crisis and subsequent bankruptcy. The former CEO went on an apology tour on major media outlets almost up to the moment he was arrested by authorities, although many pointed out what they deemed inconsistencies and falsehoods in his statements.
