Per Yahoo Finance

After recently on a Twitter Space call with us, Unusual Whales, within 24 hours, the FTX founder was finally arrested and sent to Bahamas' only prison known for its alleged harsh conditions. Within 24 hours, Sam Bankman-Fried went from living in a $40 million worth penthouse to the only correctional facility in the Bahamas called Fox Hill.

SBF was recently denied bail and is expected to remain in Bahamian custody until Feb 2023 for potentially being a flight risk, per CNBC. SEC, CFTC, and the DOJ officially charged the FTX founder.

Bahamas' Fox Hill prison is known to be densely overpopulated due to the country's imprisonment rate of 409 per 100,000 people, as specified in a 2020 US State Department human rights report.

The Bahamas 2021 Human Rights Report revealed more about the conditions 0f Fox Hill, the new home for the once-billionaire founder of FTX. The report highlights the conditions of the prison and the prisoners within it.

Prison Conditions per the 2021 Report:

Torture and Other, Cruel, Inhuman, or Degrading Treatment or Punishment

Citizens and visitors alleged instances of cruel or degrading treatment of criminal suspects or of migrants.

Prison and Detention Center Conditions

Reported as harsh due to overcrowding, poor nutrition, inadequate sanitation, and inadequate medical care.

Physical Conditions

Maximum-security cells 6x10ft held up to six people with no mattresses or toilet facilities. Human waste had to be removed by buckets as cells were infested with rats, maggots, and insects.

The report also says that the inmates were subjected to poor nutrition while allegedly denied access to prompt medical and psychological care.

The judge ordered that SBF be held in the correctional facility's medical department. The FTX founder was arrested in the Bahamas due to US fraud charges.

SBF reportedly expressed disappointment with the decision by lowering his head and hugging his parents. This was after the judge deemed him a flight risk and had to remain detained for the remainder of his trial until formally charged.

Resources:

Yahoo Finance

CNBC

Bahamas 2021 Human Rights Report

See flow at unusualwhales.com/flow.