Workers were spotted installing security cameras outside the $4 million California home where disgraced FTX founder Sam Bankman-Fried is under house arrest.
Workers set up the cameras Monday surrounding the home of Bankman-Fried’s parents, on the edge of the Stanford University campus in Palo Alto.
The fallen crypto kingpin was granted permission in Manhattan federal court last week to serve his California house arrest pending a federal trial after being released on $250 million bail.
He faces a slew of charges including wire fraud, securities fraud, conspiracy, money laundering and campaign finance violations after he allegedly defrauded investors of $1.8 billion.
On Friday, staff from a private security firm were spotted outside the home of Bankman-Fried’s parents, a block from the Stanford University campus, where they are both law professors.
Bankman-Fried, 30, must wear an ankle monitor and can only leave the five-bedroom, three-bathroom home for exercise and mental health and addiction treatment.
He is also prohibited from making unauthorized payments over $1,000, except for legal fees.
Assistant U.S. Attorney Nicolas Roos said Thursday that Bankman-Fried “committed a fraud of epic proportions” by allegedly defrauding investors and pocketing customer deposits on its FTX trading platform for itself as the site s was collapsing.
The alleged crypto scammer faces a sentence of up to 115 years. He is due back in court on January 3.