Former FTX CEO Sam Bankman-Fried Sent to Jail Prior to Criminal Trial
The former FTX CEO, Sam Bankman-Fried, had his bail revoked and was sent to jail on Friday ahead of his upcoming criminal trial in October. This decision was made following a bond hearing that took place in New York.
Key Points:
- A federal judge revoked Bankman-Fried’s bail due to allegations of witness tampering.
- Prosecutors argued that Bankman-Fried leaked his former girlfriend’s diary to the media, constituting witness tampering.
- Bankman-Fried promptly appealed the order after being sent to jail.
Reasons for Revocation of Bail:
“There is probable cause to believe that the defendant had committed the federal crime of attempted witness tampering,” Judge Kaplan’s order stated. The judge concluded that there were no conditions of release that could guarantee the safety of other individuals or the community.
During the hearing, prosecutors highlighted Bankman-Fried’s use of confidential documents from a Google Drive to intimidate Caroline Ellison, a witness in his criminal case related to the FTX collapse.
The allegations against Bankman-Fried stemmed from his interactions with The New York Times, which published excerpts from Ellison’s diary in a July article.
Bankman-Fried has been under house arrest since December due to his suspected involvement in the FTX collapse and mishandling of customer funds.
Following the recent hearing, he will remain in jail until the commencement of his trial on Oct. 2. Bankman-Fried will be granted access to a computer to aid in his trial preparations alongside his legal team.
