Former FTX CEO Sam Bankman-Fried’s Bail Revoked
Former FTX CEO Sam Bankman-Fried had his bail revoked and was sent to jail Friday ahead of his October criminal trial for alleged witness tampering.
Key Points:
- A federal judge revoked Bankman-Fried’s bail and remanded him to jail ahead of his upcoming criminal trial in October.
- Federal prosecutors argued that Bankman-Fried tampered with witnesses, leading to the decision to revoke his bail.
- Bankman-Fried leaked his former girlfriend and Alameda Research CEO Caroline Ellison’s diary to the New York Times, which the prosecution considered witness tampering.
Reasons for Bail Revocation
“There is probable cause to believe that the defendant had committed the federal crime of attempted witness tampering,” Judge Kaplan’s order said. “There is no condition or combination of conditions of release that will assure that the defendant will not pose a danger to other persons or the safety of the community.”
During the hearing, federal prosecutors argued that Bankman-Fried used access to documents in a Google Drive meant for discovery to intimidate Caroline Ellison, a witness in his criminal case related to the collapse of FTX.
These allegations arose from Bankman-Fried’s contact with The New York Times, resulting in a July article featuring parts of Ellison’s diary.
Bankman-Fried, under house arrest since December due to his alleged involvement in the collapse of crypto exchange FTX and mismanagement of customer funds, will now be sent back to jail until his trial begins on Oct. 2. He will be provided with necessary resources to prepare for the trial with his legal team.
