Former FTX CEO Granted Permission to Wear Business Attire at Fraud Trial
Summary:
Sam Bankman-Fried, former CEO of FTX, has been granted permission by a federal judge to wear business attire during his upcoming criminal trial. The trial, starting in October, involves 7 fraud-related charges from his tenure at FTX and Alameda Research. Bankman-Fried, known for his casual dress style, has consistently maintained his innocence. Additionally, the prosecution has been allowed to reveal details of his political donations linked to the fraud charges.
In a recent decision by a U.S. federal judge, former FTX CEO Sam Bankman-Fried (SBF) has obtained permission to wear business attire throughout his initial criminal trial. Judge Lewis Kaplan issued the order on September 27 in the Southern District Court of New York, instructing the United States Marshals Service and the Brooklyn-based Metropolitan Detention Center to enable SBF to dress professionally throughout his trial, commencing in October.
The authorities will handle collection and maintenance of 3 complete suits, 4 dress shirts, 3 neckties, a single belt, 4 pairs of socks, 2 sets of shoes, and the necessary undergarments.
The sight of Bankman-Fried in formal attire is a considerable departure from his usual casual ensemble seen in most of his public appearances prior to his detainment in December 2022. The ex-FTX CEO was primarily recognized for appearing in a T-shirt or hoodie, cargo shorts, and athletic shoes. However, following his arrest, SBF's court appearances were predominantly marked by him wearing suits.
Bankman-Fried's appeal to wear business suits to his trial comes just under a week before the beginning of his criminal proceedings in New York, set for October 3. He faces 7 counts revolving around fraud committed during his period at FTX and Alameda Research, as well as an additional 5 counts that will be addressed in a separate trial in March 2024. Bankman-Fried has consistently maintained his innocence on all charges.
A ruling before the trial by Judge Kaplan on September 26 allows the prosecution to present to the jury details of SBF's political donations tied to the existing fraud accusations. Initially, officials had indicted Bankman-Fried for campaign finance law violations, but this charge had to be dismissed because of U.S. treaty commitments to the Bahamas, the location from which the former FTX CEO was extradited in December 2022.
Published At
9/27/2023 5:30:00 PM
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