Sam Bankman-Fried, the previous CEO of the now-bankrupt crypto alternate FTX, had his bail revoked forward of his October trial, US District Court docket Decide Lewis Kaplan stated on Friday.
The choice got here after allegations that Bankman-Fried leaked the diary of Caroline Ellison, the previous CEO of FTX’s investment-arm Alameda Analysis, to the New York Instances. Kaplan introduced the choice in a federal courtroom in Manhattan on Friday afternoon.
Bankman-Fried is dealing with various costs, together with defrauding FTX traders, from the U.S. Securities and Alternate Fee, the Commodity Futures Buying and selling Fee and the Southern District of New York’s lawyer’s workplace. He plead not responsible to U.S. prison costs earlier this yr.
Initially, Bankman-Fried requested entry to Google Drive, which he stated was “for discovery,” Inside Metropolis Press reported that Assistant US Legal professional Danielle Sassoon stated on Friday on the listening to. “Then he used it to offer Ms. Ellison’s paperwork to the New York Instances.”
In a July 26 listening to, Kaplan inhibited Bankman-Fried from talking publicly about his case, six days after the New York Instances article on Ellison’s diary was revealed.
He was previously beneath home arrest at his mother and father’ house in Palo Alto, Calif., on a $250 million bond, since his December 2022 arrest, however is now dealing with repercussions for allegedly intimidating witnesses like Ellison.
The federal decide stated a gag order wasn’t enough given Bankman-Fried’s repeated misbehavior for crossing “a line.”
Kaplan stated in the course of the listening to there’s a “risk that he shall be detained on the [The Metropolitan Detention Center], not on anybody’s checklist of 5 star amenities.” However famous Bankman-Fried might be able to have a “devoted laptop computer” on the jail in Brooklyn, New York, for 9 to 11 hours a day.
In late December, Ellison and former FTX co-founder Gary Wang plead responsible to a number of costs and accepted plea agreements that provide decreased sentencing in alternate for cooperating with U.S. authorities.
It is a creating story and could also be up to date as extra info arises.
