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Judge Extends Sam Bankman-Fried’s Bail Restrictions – Here’s What You Need To Know!

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How FTX’s Bankman-Fried Tries to Silence Witnesses in Fraud Case

Former FTX CEO Sam Bankman-Fried’s bail restrictions on messaging apps have been extended by a federal judge.

iexclusivenews reports that according to a Reuters report on February 9th, Judge Lewis Kaplan of the United States District Court for the Southern District of New York.

Ruled against oral arguments proposed by Bankman-Fried’s legal team to allow the former CEO to use certain messaging apps.

As a condition of Bankman-Fried’s release on a $250M bond, Judge Kaplan ordered SBF not to communicate using apps such as Signal.

However, there were exceptions negotiated including Facebook Messenger, Zoom and FaceTime.

Judge Kaplan remarked that he was “far less interested in [Bankman-Fried’s] convenience” than in SBF contacting potential witnesses in his criminal case.

In addition, Bloomberg reported that the judge suggested Bankman-Fried could be “bright enough to encrypt something without a computer”, signifying the importance of upholding the bail restrictions.

What You Should Know 

This meant that Bankman-Fried had to resort to alternative forms of communication such as email and snail mail.

Bankman-Fried remains restricted to his parents’ California home until the hearing on February 21st.

The criminal trial for Bankman-Fried is scheduled to begin in October. And the U.S. Attorney’s Office has petitioned the court to issue an order staying the civil cases.

As well as discovery from the Securities and Exchange Commission and Commodity Futures Trading Commission until after the criminal case is resolved.

The hearing on February 21st will determine whether Sam Bankman-Fried’s bail restrictions will be lifted or extended.

 

 

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