Update :
$250,000 Bail paid
Former FTX boss Sam Bankman-Fried will face
home detention while awaiting trial
in the US on charges that he defrauded
customers and investors of the collapsed
cryptocurrency exchange.
A US judge ordered the 30-year-old former
billionaire could be released to his parents
on a $250m bond, a day after his extradition
from the Bahamas, where FTX was based.
He is expected to enter a plea later.
Two of his colleagues pleaded guilty
to fraud on Wednesday.
They are helping prosecutors, who have accused
Mr Bankman-Friedof unlawfully using
customer deposits made at FTX to fund
his other crypto firm, Alameda Research,
buy property and make
millions of dollars in political donations.
In a press conference last week, following
his arrest in the Bahamas, federal prosecutors
in New York described it as
"one of the biggest financial frauds in US history"
announcing eight criminal charges,
including wire fraud, money laundering
and campaign finance violations. ]
https://www.bbc.co.uk/news/business-64068810