Photo: ASSOCIATED PRESS
‘FTX Founder’s Bail Revoked Prior to October Trial’
The founder of FTX, Sam Bankman-Fried (SBF), has been sent to jail on Friday after his bail was revoked by the judge overseeing his case. US District Judge Lewis Kaplan found probable cause that Bankman-Fried repeatedly tampered with witnesses and rejected his attorneys’ request to delay his detention pending appeal. Bankman-Fried had been under house arrest in California since his extradition in December.
Prosecutors alleged that Bankman-Fried attempted to harass a crucial witness by showing a New York Times reporter the personal writings of his former partner, Caroline Ellison, who had pleaded guilty to criminal charges related to defrauding FTX investors. The prosecution argued that these actions were an attempt to damage Ellison’s reputation and influence prospective jurors. In response, Bankman-Fried’s defense team accused prosecutors of using evidence that was laden with “innuendo, speculation, and scant facts.” However, Judge Kaplan sided with the prosecution, stating that Bankman-Fried had attempted to tamper with witnesses on at least two occasions.
According to Reuters, Bankman-Fried was escorted out of the court by US Marshals after removing his shoelaces, jacket, tie and emptying his pockets. The 31-year-old former CEO had been under strict control of his internet usage as part of his $250 million bail package. Bankman-Fried had been under house arrest at his parents’ home in Palo Alto since his arrest in the Bahamas last December.