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 Choose Lewis Kaplan mentioned 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 court docket in Manhattan on Friday afternoon.
Bankman-Fried is facing a number of charges, together with defrauding FTX buyers, from the U.S. Securities and Trade Fee, the Commodity Futures Buying and selling Fee and the Southern District of New York’s lawyer’s workplace. He plead not guilty to U.S. legal expenses earlier this yr.
Initially, Bankman-Fried requested entry to Google Drive, which he mentioned was “for discovery,” Interior Metropolis Press reported that Assistant US Legal professional Danielle Sassoon said on Friday on the listening to. “Then he used it to present 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 published.
He was previously beneath home arrest at his mother and father house in Palo Alto, California, on a $250 million bond, since his December 2022 arrest, however is now going through repercussions for allegedly intimidating witnesses like Ellison.
The federal decide mentioned a gag order wasn’t ample given Bankman-Fried’s repeated misbehavior for crossing “a line.”
Kaplan said throughout the listening to there’s a “chance that he can be detained on the [The Metropolitan Detention Center], not on anybody’s checklist of 5 star services.” However famous Bankman-Fried could possibly 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 pled guilty to a number of expenses and accepted plea agreements that supply decreased sentencing in alternate for cooperating with U.S. authorities.
This can be a creating story and could also be up to date as extra data arises.
