Once lord of a multibillion-dollar crypto empire under the FTX brand name, Sam Bankman-Fried has to prepare himself for his future trial from a cell. A federal judge in New York revoked Bankman-Fried’s bail and sent the crypto wiz to jail on Friday to await trial later this year.
In a bail hearing, US District Judge Lewis Kaplan agreed with federal prosecutors’ ARGUMENTS that Banker-Fried is trying to discredit key witnesses in the case by leaking sensitive documents to the press. The US Attorney’s Office charged the accused Ex-Alameda CEO Caroline Ellison’s diary was leaked to The New York Times to scare him and the jury pool is dirty. Ellison previously had a relationship with Bankman-Fried, but he has since been turned down by the ex-FTX head and became a key witness for the prosecution as part of a plea deal. He was previously imprisoned after his arrest in the Bahamas and subsequent extradition to the US. He was released on $250 million bail last December.
According to reports from inside the courtroom, Kaplan told the court it was possible banker-Fried has tried to “harass the witnesses at least twice.” Ex-FTX CEO remanded to federal custody, WHERE he is set stay until the date of his trial, Currently scheduled for October 2. It is currently unclear where he will be held, but Inner City Press reported he can go to the Putnam County Correctional Facility or MDC-Brooklyn.
The lawyers of the then-crypto kingpin, who often go to SBF online, have said that the 31 year old is simple trying to strike a different chord from all the negative press circulating online about him and his dealings with FTX. According to APSBF lawyers repeated themselves on Friday, saying that their client should not be sent back to prison for fighting bad news coverage. Qhey plans to appeal.
The judge also denied Bankman-Fried’s request for a delayed detention while she files an appeal. SBF lawyers used to grumble making it nearly impossible to mount a defense for their client with him in federal custody.
According to reports from inside the court, Kaplan also complained about the SBF pushing the limit of his $250 million bail allowing him to stay at his parents’ home in Palo Alto, California. He referred to the of a crypto kingpin allegedly using a VPN to get around federal surveillance. The former judge Internet access is restricted in SBF to curb his worst impulses.
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