Former FTX CEO Sam Bankman-Fried Sent to Jail
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 before his upcoming criminal trial in October.
- At a bond hearing in New York, federal prosecutors argued that Bankman-Fried tampered with witnesses, leading to the bail revocation.
- Bankman-Fried leaked his former girlfriend and Alameda Research CEO Caroline Ellison’s diary to the New York Times, which the prosecution claimed amounted to 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 stated. “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 alleged that Bankman-Fried used access to documents in a Google Drive intended for discovery to intimidate Caroline Ellison, a witness in his criminal case related to the FTX collapse.
These accusations arose from Bankman-Fried’s interaction with The New York Times, resulting in a July article featuring excerpts from Ellison’s diary.
Bankman-Fried has been under house arrest since December due to his suspected involvement in the FTX exchange collapse and mishandling of customer funds.
Following Friday’s hearing, he will remain in jail until his trial commences on Oct. 2. Bankman-Fried will be granted a laptop or desktop computer access to prepare for the trial alongside his legal team.