FTX founder Bankman Fried is under house arrest until the start of the trial

New York The founder of the bankrupt FTX stock exchange, Sam Bankman-Fried, has been allowed to spend time at his parents’ home in Palo Alto, California, on $250 million bail. The 30-year-old also has to hand in his passport and is under strict surveillance while under house arrest. This was according to court documents released after Thursday’s hearing in the Southern District Court in New York.

In addition, Bankman-Fried should begin treatment and rehabilitation, The New York Times reported. If he breaks a condition or if he strays from mandatory court dates, bail must be posted.

Bankman Fried was extradited from the Bahamas to the United States on Wednesday, where he was arrested on December 12 at the request of US authorities. According to US media, it was positively interpreted before the court on Thursday that he had waived his right to challenge the extradition.