Sam Bankman-Fried sent to jail pending trial

Sam Bankman-Fried: news and articles about the founder of the FTX exchange
Sam Bankman-Fried: news and articles about the founder of the FTX exchange

A federal judge overturned the bail of FTX founder Sam Bankman-Fried (SBF) and placed him in custody until the next hearing in the case, scheduled for October. CoinDesk writes about it.

Earlier, the US Department of Justice made a motion to review the measure of restraint. The agency claimed that while at large, Bankman-Fried contacted former FTX.US General Counsel Ryan Miller, allegedly used a VPN to watch the Super Bowl, and shared personal notes of former Alameda Research head Caroline Ellison with the New York Times.

The defense acknowledged the transfer of the recordings to journalists, although they disputed the impact on the testimony of the witness. The lawyers also insisted that the arrest of the SBF would make it difficult to prepare for the meeting. However, the court was not convinced by these arguments.

The next trial of the Bankman-Fried case on the main charges is scheduled for early October. In the future, he faces another trial, tentatively scheduled for March 2024, on additional charges brought by the Department of Justice after his extradition to the United States.

Certain pre-trial motions by the prosecution and defense must be submitted to the court by Monday, August 14.

Recall that SBF was charged with 13 criminal offenses. Later, the prosecutor’s office dropped the charge of financing some politicians as part of a deal with the defense.

The FTX founder pleaded not guilty to any of the counts, including bribing a Chinese official.

Bankman-Fried was arrested in the Bahamas and extradited to the States, where he was released on $250 million bail.

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