Former FTX CEO Sam Bankman-Fried's Appeal for Bail Denied, Faces Trial on Witness Intimidation Charges
Summary:
Former FTX CEO Sam Bankman-Fried, also known as SBF, has lost his appeal to be released on bail prior to his criminal trial. The motion was denied by a circuit judge, and his case will be referred to a three-judge panel. Bankman-Fried is facing charges related to witness intimidation.
Sam Bankman-Fried, the former CEO of FTX, also known as SBF, had his appeal to be released on bail denied by a circuit judge. The motion, which was filed on Sept. 6 in the United States Court of Appeals for the Second Circuit, sought his immediate release from the Metropolitan Detention Center in Brooklyn. However, the request was denied, and the case will now be referred to the next available three-judge panel.
Bankman-Fried was extradited from the Bahamas and arraigned in the U.S. in December 2022. He had been out on a $250-million bond, restricted to his parents' home in California. However, his bail was revoked on Aug. 11 following allegations of witness intimidation. The alleged victim was Caroline Ellison, the former CEO of Alameda Research, with whom SBF had a personal and professional relationship.
In response to the bail revocation, Bankman-Fried's legal team has filed multiple requests for additional time and access to review evidence. They have asked for more time in the visitor's room at the Brooklyn jail and the attorney room in the New York courthouse. These requests would allow SBF to adequately prepare for his trial, which is scheduled to begin on Oct. 3.
It remains to be seen whether Bankman-Fried will be granted the requested accommodations or if he will remain in custody until his trial.
Published At
9/6/2023 7:43:31 PM
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