FTX Founder Sam Bankman Freed Thinks Prison Will Be Like The Shawshank Redemption: Report

Sam Bankman Fried He reportedly said he thought his time in prison in the Bahamas would be like the 1994 classic “The Shawshank Redemption.”

“I thought it was going to be like The Shawshank Redemption,” Disgraced founder of FTX and CEO of Forbes in an exclusive interview published Thursday.

The movie, starring Morgan Freeman, was nominated for seven Academy Awards.

The former billionaire told the publication that he was assigned to a room with five other inmates at the facility’s infirmary, which kept him away from the general population.


Sam Bankman Fried, co-founder of FTX Cryptocurrency Derivatives Exchange, arrives in court in New York, Tuesday, January 3, 2023. (Stephanie Keith/Bloomberg via Getty Images/Getty Images)

Bankman-Fried painted a vivid picture of life in Fox Hill, bathing with a garden hose, drying off with a three-inch by five-inch towel and sleeping in “the worst bed imaginable, made of cardboard and a piece of semi-soft plastic on stilts”.

Once chief The second largest cryptocurrency exchange in the worldHe said he used his court jacket as a pillow.

Fox Hill

Fox Hill Prison in the Bahamas Sam Bankman-Fried, co-founder of FTX, is being held on December 20, 2022, in Nassau, Bahamas. (Joe Raedel/Getty Images/Getty Images)

The 30-year-old made friends with other prisoners and did not feel in danger, although some of them asked him for money.

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He told Forbes that the worst part was the lack of internet.

Sam Bankman-Fried is one of the founders of FTX in the Bahamas

Sam Bankman-Fred, co-founder of FTX, is escorted outside Magistrates Court on December 21, 2022, in Nassau, Bahamas. (Joe Raedel/Getty Images/Getty Images)

“I didn’t realize how important internet access was to me more than anything else in common, but that was like 80% of the total cost of being in prison,” he said, noting that he would sometimes get access to a newspaper.

Bankman-Fried claimed he was limited to one 30-minute phone call during his entire stay, but was allowed to see his lawyer from the Bahamas every day.

Founder of FTX

FTX founder Sam Bankman-Fred leaves Manhattan federal court after his arraignment and bail hearings on December 22, 2022 in New York City. (Michael M. Santiago/Getty Images/Getty Images)

In December, he waived his right to fight extradition and agreed to return to the United States to face charges. He flew on a private FBI plane to a local police station in White Plains, New York, and his lawyers accepted a $250 million bond arrangement backed in part by his parents’ $4 million California home, where he is now shackled wearing an electronic ankle bracelet. he Not guilty to a set of federal charges he faces for allegedly defrauding clients and investors, and filing his plea through his attorney.

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Bankman-Fried’s trial is set for October 2.

Brick Dumas of Fox Business, Marta Danes and Reuters contributed to this report.

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