Sam Bankman-Fried, the disgraced co-founder and former CEO of collapsed crypto exchange FTX, has been transferred to a low-security prison in California following a brief but notable stint at one of the country’s most violent correctional facilities.
According to the Federal Bureau of Prisons’ inmate registry, Bankman-Fried is now serving his 25-year sentence at the Federal Correctional Institution (FCI) Terminal Island in Los Angeles. The move comes after a nearly two-week stay at Victorville, a medium-security prison notorious for gang violence and assaults, often referred to by inmates and staff as “Victimville.”
A Safer Setting for a High-Profile Inmate
Terminal Island, a low-security federal prison, has a less aggressive reputation compared to Victorville. The facility has housed various white-collar criminals in the past, including music producer Mouli Cohen and former stockbroker Anthony Elgindy, both convicted of fraud and other offenses.
Bankman-Fried’s new facility offers access to legal resources, including a law library (available for up to $360 per month from a commissary account), as well as vocational training programs in fields like welding, plumbing, cabinet making, and culinary arts. It also provides wellness initiatives and social support programs, making it a more suitable environment for non-violent offenders.
Legal Team Cited Health Concerns and Safety
The transfer aligns with earlier efforts by Bankman-Fried’s legal team to relocate him to a lower-security facility. His attorneys argued that his lack of prior criminal record and diagnosed autism made him particularly vulnerable in violent prison environments.
While the Bureau of Prisons has not provided an official reason for the transfer, the decision suggests the request was granted on humanitarian or medical grounds.
From Brooklyn to “Victimville”
Bankman-Fried’s journey through the U.S. correctional system began with an 18-month pretrial stint at the Metropolitan Detention Center in Brooklyn. He was later moved to a transfer center in Oklahoma before landing at Victorville, where his high-profile status and non-violent background reportedly placed him at considerable risk.
Victorville’s reputation is grim. In recent years, the facility has seen multiple violent incidents, including a 2013 murder by inmates, a 2017 attempted murder of a warden, and frequent gang-related fights and stabbings. For a figure like Bankman-Fried, whose crimes were financial in nature and who has a notable public profile, the setting was considered particularly harsh.
A Presidential Pardon on the Horizon?
Despite the 25-year sentence handed down by a Manhattan jury for seven counts of fraud and conspiracy, Bankman-Fried’s family is reportedly exploring options for a presidential pardon. According to sources, his parents are hoping to appeal to former President Donald Trump, should he return to office. Trump previously pardoned Ross Ulbricht, founder of the Silk Road darknet marketplace, fueling hope among white-collar inmates seeking clemency.
Bankman-Fried’s official release date is listed as December 14, 2044
The move to FCI Terminal Island marks a dramatic shift in the conditions of Sam Bankman-Fried’s incarceration from one of the most dangerous prisons in America to a relatively calm low-security facility. As legal efforts continue in the background, and with whispers of a potential pardon, the next chapter of the former crypto mogul’s saga is far from over.
