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Judge revokes Sam Bankman-Fried’s bail, remands him to custody: Report

Press Releases Crypto News Cointelegraph Judge revokes Sam Bankman-Fried’s bail, remands him to custody: Report

A federal judge has reportedly revoked former FTX CEO Sam Bankman-Fried’s bail following the release of information to New York Times reporters in an alleged attempt to intimidate witnesses.

According to reports of individuals present at an Aug. 11 hearing in the United States District Court for the Southern District of New York, Judge Lewis Kaplan ordered Bankman-Fried’s bail revoked, suggesting he will be held in jail through the end of his two trials for fraud related to his activities at FTX. Prosecutors had been pushing for the revocation of Bankman-Fried’s $250 million bail, which had kept him out of custody since his arraignment in December 2022.

Kaplan reportedly said that Bankman-Fried’s interviews with New York Times reporters resulted in sharing information with the likely intention “to hurt and frighten” former Alameda Research CEO Caroline Ellison, his former colleague and girlfriend. Bankman-Fried’s legal team confirmed he had provided the reporters with some of the published information, which led Kaplan to impose a gag order preventing extrajudicial statements related to the criminal case.

Assistant U.S. Attorney Danielle Sassoon reportedly cited Bankman-Fried’s violations of previous bail conditions, which included a message on the Signal app to FTX US general counsel Ryne Miller in January, using a virtual private network for his internet activity and releasing information to reporters aimed at intimidating Ellison. Sassoon added that the Putnam County Correctional Facility was prepared to offer Bankman-Fried, who also goes by “SBF,” a laptop should the judge order him remanded but also suggested home detention

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Author: Turner Wright

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