1 year ago
Federal prosecutors person requested that Sam Bankman-Fried’s bail beryllium revoked arsenic the erstwhile FTX CEO awaits trial, the Associated Press reported connected July 26.
Earlier, prosecutors alleged that Bankman-Fried leaked the personal writings of Caroline Ellison to the New York Times. Ellison was formerly the CEO of FTX’s sister firm, Alameda Research, and was concisely successful a narration with Bankman-Fried.
Ellison is presently acceptable to enactment arsenic a witnesser astatine Bankman-Fried’s trial, and prosecutors accordingly argued that Bankman-Fried’s alleged accusation sharing constituted witnesser tampering. Those prosecutors initially pursued a gag order to forestall further disclosures. However, prosecutors present judge that nary bail conditions tin forestall Bankman-Fried from influencing witnesses and person demanded his imprisonment.
Bankman-Fried’s lawyer, Mark Cohen, stated that his lawsuit pleads not blameworthy and said that prosecutors told him of their incarceration petition conscionable moments earlier the latest hearing.
Judge Lewis A. Kaplan has fixed some sides of the lawsuit respective days to taxable written arguments connected the matter. The justice said that helium is “very mindful” of some the government’s interests and Bankman-Fried’s First Amendment, oregon escaped speech, rights. He likewise urged Bankman-Fried to instrumentality the government’s petition seriously.
Judge Kaplan antecedently suggested the anticipation of incarcerating Bankman-Fried owed to his repeated attempts to bypass constraints connected his physics communications, according to the Associated Press. Prosecutors and Bankman-Fried’s ineligible squad mostly agreed connected communications restrictions successful February; Bankman-Fried was believed to person contacted other individuals related to FTX astir that time.
SBF’s October proceedings looms
Bankman-Fried is presently facing 13 charges, with his transgression proceedings scheduled to statesman connected Oct. 2, 2023. If convicted, the erstwhile FTX CEO could beryllium sentenced to up to 115 years successful prison.
The erstwhile FTX person volition stay connected his $250 cardinal bail successful the months starring up to that date. Since his apprehension and extradition from the Bahamas successful December, Bankman-Fried has been nether location apprehension astatine his parent’s location successful Palo Alto, California, and has been forced to abide by the communications restrictions described above.
FTX collapsed successful November 2022 arsenic it experienced a tally connected accounts. The company, present led by its replacement CEO John Ray III, is presently undergoing bankruptcy proceedings.
The station Federal prosecutors privation Sam Bankman-Fried’s bail revoked appeared archetypal connected CryptoSlate.
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