As soon as the lord of a multibillion-dollar crypto empire below the FTX model title, Sam Bankman-Fried will now have to arrange himself for his upcoming trial from a cell. A New York federal choose revoked Bankman-Fried’s bail and despatched the crypto wiz to jail Friday to await trial later this yr.
In a bail listening to, U.S. District Decide Lewis Kaplan agreed with federal prosecutors’ argument that Bankman-Fried was trying to discredit key witnesses within the case by leaking delicate paperwork to the press. The U.S. Legal professional’s Workplace alleged the defendant leaked the diary of ex-Alameda CEO Caroline Ellison to The New York Times in an effort to intimidate her and taint the jury pool. Ellison was as soon as in a relationship with Bankman-Fried, however she’s since flipped on the ex-FTX head and has change into a key witness for the prosecution as a part of a plea deal. He had beforehand been incarcerated after his arrest within the Bahamas and subsequent extradition to the US. He posted $250 million bail in December.
In response to reports coming from contained in the courtroom, Kaplan informed the courtroom that it was possible Bankman-Fried had tried to “tamper with witnesses at the least twice.” The ex-FTX CEO was remanded to federal custody, the place he’s slated to stay till his trial date, at the moment set for Oct. 2. It’s at the moment unclear the place he shall be held, however Interior Metropolis Press reported he may both be going to Putnam County Correctional Facility or MDC-Brooklyn.
Attorneys for the once-crypto kingpin, who typically goes by SBF on-line, have claimed the 31-year-old was merely trying to strike a different chord from all of the adverse press circulating on-line about him and his dealings with FTX. In response to AP, SBF’s attorneys repeated themselves Friday, saying that their shopper shouldn’t be thrown again in jail for battling unfavorable information protection. They plan to file an attraction.
The choose additionally denied Bankman-Fried’s request for a delayed detention whereas he filed an attraction. SBF’s attorneys had beforehand whined that it could be subsequent to not possible to create their shopper’s protection with him in federal custody.
In response to studies from contained in the courtroom, Kaplan additionally complained about SBF pushing the bounds of his $250 million bail that permit him keep in his dad and mom’ residence in Palo Alto, California. He referenced the once-crypto kingpin’s alleged use of a VPN in an effort to get round federal surveillance. The choose beforehand restricted SBF’s internet access in an effort to curtail his worst impulses.
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