Sam Bankman-Fried (SBF), the founder of FTX, has been provided free advice by Martin Shkreli (a white-collar criminal in the past going by the name “Pharma Bro”) to survive in federal prison. Shkreli spent nearly 4 years in prison for securities fraud in 2018 and 2022. He stated that SBF (who has recently been released on bail) does not look like a person who fits in the environment of jail.
Former White-Collar Criminal Advises SBF to Prepare Himself for a Jail time
As per Shkreli, the FTX founder should shave his head and deepen his voice. He additionally mentioned that SBF should train himself to live in a gang culture along with listening to rap music. The formerly imprisoned person appeared in an interview and suggested that Bankman-Fried required rebranding himself according to the jail environment as entering jail as a wealthy white kid belonging to a noble neighborhood is not a good idea.
He pointed out that SBF’s personality is not precisely in line with the requirements of prison. In the words of Shkreli, the sensibility of Bankman-Fried needs to be conformed to a place that is filled with a masculine atmosphere. In addition to this, he advised SBF to shave his head as it would make him look like those are already in prison. As Shkreli puts it, the FTX founder should also deepen his voice to sound like the other prisoners.
The former prisoner additionally asserted that to modify his behavior according to those who are normally associated with the places like prison, Bankman-Fried should consider listening to rap music. Pharma Bro specified that by following his advice, SBF would appear like a person would not be considered to be from Standford anymore.
In his words, Bankman-Fried lacks knowledge about criminal and street culture. That said, he added, Bankman-Fried requires rapidly learning about gangs. Shkreli is of the view that although this sounds ridiculous, however, SBF’s life can be saved if he abides by these recommendations.
In the meantime, a 1980’s well-known corrupt firm Crazie Eddie’s former CFO Sam Antar – who was previously convicted criminal – also provided an alternative suggestion.
As per Antar, Bankman-Fried should run away. Antar proposed that it is better to sacrifice the $250 million – that were given for SBF’s bail – to have freedom instead of spending up to twenty or more years in jail. He specified that the same piece of advice was given to him by his criminal lawyer as a person can only be hanged once.
Apart from Shkreli’s unsolicited advice, he – along with Do Kwon (the founder of Terra/LUNA) – appeared in an interview last month and stated that prison is not as bad as people think it to be. Hence, he told Kwon that he should not be afraid of jail and the Terra founder awkwardly replied that he was pleased to know that.
SBF’s House-Arrest Period to End in Early January
On the other hand, it was reported on the 26th of this month that the security cameras were being installed outside the Palo Alto-based house of Bankman-Fried’s parents where he is staying during his house arrest.
The FTX founder has the compulsion to put on an ankle monitor. The gadget can only be removed for mental health treatment, exercise, as well as substance abuse. Strict limits have also been implemented on his payments.