Shave Your Head And Listen To Rap: Jail Survival Tips From An Inmate Billionaire To Sam Bankman, The Founder Of FTX

Former FTX CEO Sam Bankman-Fried, who is facing fraud charges in the cryptocurrency stock market crash, walks from Manhattan federal courthouse after being granted bail in New York City, United States. Joined.  December 22, 2022. REUTERS/Jeenah Moon
Former FTX CEO Sam Bankman-Fried, who is facing fraud charges in the cryptocurrency stock market crash, walks from Manhattan federal courthouse after being granted bail in New York City, United States. Joined. December 22, 2022. REUTERS/Jeenah Moon

The businessman in the pharmaceutical industry, sentenced to prison, Martin Shkreladvised Sam Bankman-Fried about his possible stay in prison, stating that the founder of FTX should prepare by listening to rap music, raising his voice and shaving his head.

Bankman-Fried, a 30-year-old former billionaire, was arrested in the Bahamas earlier this month following the fraudulent bankruptcy of cryptocurrency platform FTX and has been charged with eight criminal counts. If he is convicted, he faces 115 years in prison, Business Insider recalled.

Meanwhile, Shkreli, who was released from jail earlier this year, told crypto journalist Laura Shin on her “Unchained” podcast that he thinks Bankman-Fried is “not exactly going to be someone who fits in jail.”

“You know, my advice to him includes shaving his head, my advice to him includes deepening his voice,” Shkreli said.

“Sam is going to have a lot of problems and his behavior, some people say that [un] autistic type of sense or sensitivity is not something that goes well in prison, “he said.

In this sense, Shkreli added that these changes in prison “could save his life.”

“He probably shouldn’t say he’s from Stanford or anything like that anymore,” Shkreli said.

“He can say he’s from Oakland, I think people would rather hear him lie than hear the truth,” he clarified. “Even though they know it’s a bit of a lie, he should probably start reinventing his origin and his story, because the rich white kid from a nice neighborhood… that story doesn’t sound very good,” she warned.

Bankman-Fried’s charges include wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering. He was extradited to New York on December 21 and released on $250 million bail the next day, Business Insider recalled.

At that point, “he was ordered to surrender his passport and remain with his parents at their home in Palo Alto, California, until trial. Another hearing is scheduled for January 3 in Manhattan, where Bankman-Fried is expected to plead guilty.”

Martin Shkrel Reuters
Martin Shkrel Reuters

Shkreli, a former pharmaceutical chief executive, earned the nickname “pharmaceutical bro” in 2015 after he came under fire for raising the price of an AIDS drug from $13 to $750.

In 2017, he was found guilty of fraud and sentenced to seven years in prison.

Business Insider recalled that in May of this year he was released from a Pennsylvania prison after serving only part of his seven-year sentence and was transferred to a “community confinement” program, as confirmed to Insider by the United States Bureau of Prisons; however, he exited the show in September.

Shkreli, who was banned from the industry for life, was ordered by Judge Denise Cote to repay $64.6 million in profits he made by taking out a patent on a drug and then massively increasing its price; the Court determined that Shkreli’s conduct violated antitrust laws.

The forced return is related, according to the international media, when the businessman increased the value of Daraprim, a drug used to treat toxoplasmosis and malaria, by raising its price from US$13.50 to US$750.

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