Sam Bankman-Fried is being transferred to a new prison, a process that started early Wednesday, the Wall Street Journal reported, citing a spokesman for the disgraced founder of collapsed crypto exchange FTX. The relocation overrides Bankman-Fried's wish to remain in New York to assist with his appeal preparations. Although the new destination was unconfirmed by the spokesman, people familiar with the matter informed the WSJ that SBF, as he is known, was recently notified he would be moved to a federal prison in Mendota, California. In March, SBF was sentenced to 25 years in federal prison for orchestrating the large-scale fraud and conspiracy that led to the downfall of his crypto empire. The former crypto mogul subsequently appealed his conviction and prison sentence. During his trial in October, prosecutors had said SBF stole customer and investor funds while lying about where such funds were placed. More on Bankman-Fried and FTX FTX says most customers will get refunded FTX in talks with three suitors to buy collapsed crypto exchange - report SBF found guilty on all seven criminal counts
