FTX crypto founder Sam Bankman-Fried thought jail would be 'like The Shawshank Redemption': report

FTX crypto founder Sam Bankman-Fried thought jail would be ‘like The Shawshank Redemption’: report

Sam Bankman-Fried reportedly mentioned that he thought his time in jail within the Bahamas would be just like the 1994 traditional movie “The Shawshank Redemption.”

“I thought that it was going to be like The Shawshank Redemption,” the disgraced FTX founder and CEO advised Forbes in an unique interview revealed Thursday. 

The movement image starring Morgan Freeman was nominated for seven Academy Awards.

The former billionaire advised the publication that he was assigned to a room with 5 different inmates within the facility’s infirmary, preserving him away from the overall inhabitants. 


Sam Bankman-Fried

Sam Bankman-Fried, co-founder of FTX Cryptocurrency Derivatives Exchange, arrives at courtroom in New York, Tuesday, Jan. 3, 2023.  (Stephanie Keith/Bloomberg by way of Getty Images / Getty Images)

Bankman-Fried painted a vivid image of life at Fox Hill, showering with a backyard hose, drying off with a towel that was three inches by 5 inches and sleeping within the “worst potential mattress conceivable, product of cardboard and a chunk of semi-soft plastic on prime of stilts.” 

Once the pinnacle of the world’s second-largest cryptocurrency exchange, he mentioned he used his go well with jacket that he wore for courtroom appearances as a pillow. 

Fox Hill

The Bahamas Department of Corrections Fox Hill Prison, the place FTX co-founder Sam Bankman-Fried was being held on Dec. 20, 2022, in Nassau, Bahamas.  (Joe Raedle/Getty Images / Getty Images)

The 30-year-old made buddies with the opposite inmates and didn’t really feel at risk, though a few of them requested him for cash.


The worst half, he advised Forbes, was the dearth of web. 

FTX co-founder Sam Bankman-Fried in the Bahamas

FTX co-founder Sam Bankman-Fried is escorted out of the Magistrate’s Court on Dec. 21, 2022, in Nassau, Bahamas.  (Joe Raedle/Getty Images / Getty Images)

“I did not notice how rather more essential than the whole lot else mixed web entry is to me, however that was like 80% of the whole value of being in jail, ” he mentioned, noting that he would often get entry to a newspaper. 

Bankman-Fried claimed that he was restricted to 1 30-minute telephone name throughout his total keep, however was allowed to satisfy along with his Bahamian legal professionals each day.

FTX founder

FTX founder Sam Bankman-Fried leaves Manhattan Federal Court after his arraignment and bail hearings on Dec. 22, 2022, in New York City.  (Michael M. Santiago/Getty Images / Getty Images)

In December, he waived his proper to combat extradition and agreed to return to the U.S. to face expenses. He flew on a personal FBI aircraft to a neighborhood police station in White Plains, New York, and his legal professionals agreed to a $250 million bail association backed partially by his mother and father’ $4 million California dwelling, the place he’s now confined carrying an digital ankle bracelet. He pleaded not guilty to an array of federal expenses he faces for allegedly defrauding clients and buyers, getting into his plea by way of his attorneys.


Bankman-Fried’s trial is about for Oct. 2.

Fox Business’ Breck Dumas, Marta Dhanis and Reuters contributed this report.