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Former FTX CEO Sam Bankman-Fried will reportedly look forward to his October trial in jail after a federal decide revoked his bail on Friday.
CNN reports that US marshals handcuffed and accompanied the previous crypto billionaire out of the courtroom following District Decide Lewis Kaplan’s order that the he be quickly remanded to the Metropolitan Detention Middle in Brooklyn.
Bankman-Fried is accused of masterminding a multibillion-dollar fraud scheme the place he allegedly lied to prospects and commingled the funds they deposited into FTX.
The $250 million bail allowed him to remain at his mother or father’s home in Palo Alto, California following his arrest in December, however federal prosecutors sought to revoke the bail and put him in detention.
In a letter to Kaplan asking for the revocation of the bail, the prosecution says the FTX founder is unlikely to abide by the circumstances of his pretrial launch, highlighting Bankman-Fried’s efforts to tamper with witnesses and hinder investigations.
“The defendant’s makes an attempt to tamper with witnesses and intervene with the Authorities’s and public’s proper to a good trial and the due administration of justice, and his sample of circumventing his bail circumstances in that pursuit, exhibit that no set of pretrial launch circumstances can adequately guarantee the protection of the neighborhood and that the defendant is unlikely to completely abide by any circumstances of launch.”
The request comes after Bankman-Fried gave the New York Times the non-public writings of his former affiliate, Caroline Ellison, who is ready to testify in opposition to him. In the course of the listening to on Friday, Kaplan says the act would solely be executed to “damage, discredit and frighten the topic of the fabric.”
Bankman-Fried’s attorneys filed a discover of attraction following the announcement of the order.
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