Thursday, July 25, 2024
HomeEntrepreneurA Judge Just Ordered Sam Bankman-Fried to Go To Jail

A Judge Just Ordered Sam Bankman-Fried to Go To Jail


There will be no more home-cooked meals for Sam Bankman-Fried.

The fallen crypto king has been holed up at his parents’ home in Palo Alto since pleading not guilty to fraud charges stemming from FTX‘s collapse. But this afternoon in a Manhattan courtroom, a judge revoked Bankman-Fried’s bail, ordering him to go directly to jail before his trial scheduled to begin on October 2.

“My conclusion is there is probable cause to believe the defendant tried to tamper with witnesses at least twice,” said Judge Lewis A. Kaplan during his ruling.

According to CNBC, court marshals took Bankman-Fried into custody after the hearing. He removed his jacket, tie, and shoes and emptied his pockets. A reporter for CNBC, who was in the courtroom, said that Bankman Fried’s mother had her face buried in her hands during the ruling.

Related: When in Doubt, Don’t: 4 Lessons to Learn from the Crypto Implosion

Accused of witness tampering

Prosecutors alleged that Bankman-Fried shared emails from his former girlfriend, Caroline Ellison, with The New York Times to intimidate her before his trial in October. They also said that Bankman-Fried leaked information to other journalists, including Michael Lewis, who is writing a book about FTX.

Last January, prosecutors argued that Bankman-Fried was sending messages to a former FTX executive who was a potential witness in the case, according to the Times. They also said Bankman-Fried was using VPN to access the internet and sending encrypted messages on Signal.

Judge Lewis responded by banning Bankman-Fried from contacting current or former employees. But, the order was not obeyed, and Bankman-Friend will now have to prep for his trial from a jail cell.

At press time, it was not clear where Bankman-Friend would be held. Prosecutors requested a jail in Putnam, New York, so he could access a laptop with internet. But the nearest jail to the courthouse is the Metropolitan Detention Center in Brooklyn, which has limited internet access for prisoners.



This story originally appeared on Entrepreneur

RELATED ARTICLES
- Advertisment -

Most Popular

Recent Comments