Sam Bankman-Fried arrested as bail is revoked

Sam Bankman-Fried, the laminitis and erstwhile CEO of FTX, has had his bail revoked and volition present beryllium held successful prison, Reuters said connected Aug. 11.

That study indicates that U.S. District Judge Lewis Kaplan revoked Bankman-Fried’s bail pursuing earlier concerns astir witnesser tampering.

Judge Kaplan noted during the latest proceeding that Bankman-Fried had provided documents regarding erstwhile subordinate Caroline Ellison to New York Times reporters during an in-person gathering astatine his parents’ home. The justice reasoned that Bankman-Fried knew that “he was slightest apt to beryllium caught” by conducting the gathering successful this mode and asserted that the accused was “was covering his tracks.”

Separate reports from The New York Times punctuation Kaplan arsenic stating that Bankman-Fried had “gone up to the enactment implicit and implicit again,” frankincense necessitating the bail revocation. Bankman-Fried attempted to interaction other applicable parties implicit the people of this year.

Federal prosecutors argued for Bankman-Fried’s bail to beryllium revoked astir July 26. They insisted that Bankman-Fried’s actions could sway witnesses if helium were to stay connected bail and asserted that an existing gag order provided insufficient restrictions.

SBF arrested, but adjacent steps unclear

Reuters reported that Bankman-Fried was arrested astatine the extremity of the latest hearing. Both of Bankman-Fried’s parents were contiguous successful the courtroom audience.

The determination astatine which Bankman-Fried volition beryllium held has not been confirmed. However, according to Reuters, authoritative Danielle Sassoon said that Bankman-Fried should beryllium held astatine the medium-security Putnam County Correctional Facility. This volition supply him with an online laptop truthful that helium tin reappraisal grounds anterior to his trial.

Despite Sassoon’s evident leniency successful choosing a holding location, the New York Times portrays Sassoon arsenic taking a harsh presumption connected Bankman-Fried’s actions. There, she is quoted arsenic stating that “no acceptable of merchandise conditions” tin guarantee the community’s information and asserting that the accused is “intent connected exploiting the conditions of release.”

Though the entirety of the latest proceeding has not been made public, a minute entry successful Bankman-Fried’s lawsuit docket confirms that Bankman-Fried’s enslaved has been revoked and that the “defendant [was] ordered remanded” during the hearing.

That introduction besides states that Bankman-Fried’s ineligible squad moved to hold the court’s ruling connected a pending appeal, but that this petition was denied by the court. Reports suggest that his ineligible squad different intends to contention the result.

Bankman-Fried’s imprisonment begins little than 2 months earlier his October trial. Until now, isolated from a little incarceration successful The Bahamas, Bankman-Fried has chiefly been connected bail and nether location apprehension astatine his parents’ location successful Palo Alto, California.

The station Sam Bankman-Fried arrested arsenic bail is revoked appeared archetypal connected CryptoSlate.