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

Sam Bankman-Fried reportedly explained that he assumed his time in jail in the Bahamas would be like the 1994 traditional film “The Shawshank Redemption.”

“I believed that it was heading to be like The Shawshank Redemption,” the disgraced FTX founder and CEO explained to Forbes in an exclusive interview published Thursday.

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

The former billionaire instructed the publication that he was assigned to a place with 5 other inmates in the facility’s infirmary, preserving him away from the general populace.

SAM BANKMAN-FRIED TWEETS Absent Even though Beneath Residence JUDGMENT

Sam Bankman Fried

Sam Bankman-Fried, co-founder of FTX Cryptocurrency Derivatives Trade, arrives at court in New York, Tuesday, Jan. 3, 2023. (Stephanie Keith/Bloomberg through Getty Photographs/Getty Photos)

Bankman-Fried painted a vivid photograph of life at Fox Hill, showering with a garden hose, drying off with a towel that was three inches by five inches and sleeping in the “worst probable bed that you can think about, produced of cardboard and a piece or semi-comfortable plastic on top of stilts.”

As soon as the head of the world’s 2nd-largest cryptocurrency exchange, he reported he used his suit jacket that he wore for courtroom appearances as a pillow.

Fox Hill

The Bahamas Division of Corrections Fox Hill Jail, the place FTX co-founder Sam Bankman-Fried was remaining held on Dec. 20, 2022, in Nassau, Bahamas. (Joe Raedle/Getty Photos/Getty Illustrations or photos)

The 30-yr-aged designed pals with the other inmates and did not feel in risk, even though some of them asked him for cash.

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The worst component, he instructed Forbes, was the deficiency of online.

FTX co-founder Sam Bankman-Fried in the Bahamas

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

“I failed to know how substantially additional essential than all the things else merged world wide web entry is to me, but that was like 80% of the whole value of becoming in jail,” he reported, noting that he would often get obtain to a newspaper.

Bankman-Fried claimed that he was restricted to just one 30-moment cellphone simply call all through his whole keep, but was authorized to meet up with with his Bahamian lawyers every day.

FTX founder

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

In December, he waived his ideal to combat extradition and agreed to return to the US to facial area rates. He flew on a private FBI airplane to a neighborhood law enforcement station in White Plains, New York, and his lawyers agreed to a $250 million bail arrangement backed in component by his parents’ $4 million California home, exactly where he is now confined putting on an electronic ankle bracelet. He pleaded not responsible to an array of federal prices he faces for allegedly defrauding buyers and investors, coming into his plea as a result of his lawyers.

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

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

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