Awaiting sentencing at Brooklyn’s Metropolitan Detention Center (MDC), recently convicted cryptocurrency fraudster Sam Bankman-Fried has reportedly adopted an unusual form of currency: packs of mackerel fish, according to The Wall Street Journal.
Bankman-Fried recognized the significance of mackerel fish as a valuable commodity within the jail, replacing cigarettes as a medium of exchange, sources familiar with the matter informed the WSJ. The convicted fraudster allegedly exchanged multiple pouches of mackerel fish for a haircut with another inmate prior to his trial.
Sharing quarters with former Honduran President Juan Orlando Hernández and former Secretary of Public Security in Mexico Genaro Garcia Luna, both facing drug charges, Bankman-Fried is also said to provide cryptocurrency advice to guards, as reported by the WSJ.
The downfall of Bankman-Fried’s cryptocurrency exchange FTX in November 2022, amid allegations of mishandling customer funds, preceded his guilty verdict on seven fraud and conspiracy-related charges. The Department of Justice indicted him in August, accusing him of misappropriating FTX customer deposits and embezzling billions for various purposes, including substantial campaign contributions.
As a Democrat megadonor, Bankman-Fried contributed over $30 million, making him the second-largest individual contributor to Democrat-aligned causes during the 2022 midterm election cycle, according to The Washington Post’s analysis of FEC data.
The jury’s guilty verdict, reached after around four hours of deliberation, has set Bankman-Fried on a path to face over 100 years in prison. His sentencing is scheduled for March 28, as reported by The New York Times. The MDC, where Bankman-Fried is detained, has faced challenges such as understaffing, power outages, meal issues, and corruption in recent years, according to Reuters.
In response to inquiries, Bankman-Fried’s spokesman Mark Botnick commented, “Sam’s doing the best he can under the circumstances.” The WSJ further revealed that Bankman-Fried receives medication for attention-deficit hyperactivity disorder and vegetarian meals, overcoming initial challenges in obtaining them when first confined to the MDC in August. At the time of reporting, there has been no immediate response from Bankman-Fried’s attorney or the MDC to the Daily Caller News Foundation’s request for comment.
