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A judge in the Bahamas denied Sam Bankman-Fried bail despite his plea for house arrest.
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US authorities charged Bankman-Fried Tuesday with "one the largest financial frauds in US History".
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JoyAnn Ferguson-Pratt, a chief magistrate, denied the petition for release on bond and stated that there was a "great risk" of flight.
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He was remanded in a Fox Hill correctional institution until February 8.
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After convincing investors that FTX was safe, Bankman-Fried is accused of defrauding them out of $1.8 million.
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They claimed he had hidden $300 million in a Brazilian account in September, just before the trading platform collapsed.
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According to reports, the 30-year-old told the chief magistrate that he could not go to prison because of his vegan diet and because he was "depressed."
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His lawyers had requested bail for $250,000, which was denied.
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Bankman-Fried is facing eight criminal charges in the United States, including wire fraud and money laundering.
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