Fried Financial News

Sam Bankman-Fried, former CEO of now-defunct crypto exchange FTX, is facing new allegations from the Department of Justice (DOJ), including the embezzlement of customer funds. 

FTX cryptocurrency exchange to make more than $100 million in political campaign contributions before the 2022 U.S. midterm elections, federal prosecutors said on Monday. An amended indictment accused the 31-year-old former billionaire of directing two FTX executives to evade contribution limits by donating to Democrats and Republicans, and to conceal where the money came from.

Prosecutors say they'll use testimony from FTX founder Sam Bankman-Fried's “trusted inner circle” of former executives at his collapsed cryptocurrency empire against him at an October trial

The United States Attorney’s Office has released a new superseding indictment against former FTX CEO Sam Bankman-Fried, which includes allegations of campaign finance law violations as part of a wire fraud scheme.

By Luc Cohen

The legal team defending Sam Bankman-Fried (SBF) against criminal charges has requested a federal judge allow the former FTX CEO to have access to antidepressants while in jail.

Sam Bankman-Fried, the indicted founder of bankrupt cryptocurrency exchange FTX, needs access to medications to treat depression and attention deficit hyperactive disorder (ADHD) while jailed ahead of his fraud trial, his lawyers said on Monday. In a letter, Bankman-Fried's lawyers asked US District Judge Lewis Kaplan to order the Metropolitan Detention Center (MDC) in Brooklyn to ensure their client has a daily Emsam skin patch for depression and three or four doses a day of Adderall for ADHD.

Former FTX CEO Sam Bankman-Fried is going into his third night with over 1,500 other inmates in one of New York's most notorious prisons — a far cry from his parent's multi-million dollar five-bedroom home in Stanford.

Judge revokes bail for FTX founder Sam Bankman-Fried, says crypto mogul tampered with witnesses in his fraud case

FTX founder Sam Bankman-Fried left a federal courtroom in handcuffs Friday when a judge revoked his bail after concluding that the fallen cryptocurrency wiz had repeatedly tried to influence witnesses against him. Bankman-Fried drooped his head as Judge Lewis A. Kaplan explained at length why he believed the California man had repeatedly pushed the boundaries of his $250 million bail package to a point that Kaplan could no longer ensure the protection of the community, including prosecutors' witnesses, unless the 31-year-old was behind bars. After the hearing ended, Bankman-Fried took off his suit jacket and tie and turned his watch and other personal belongings over to his lawyers. The clanging of handcuffs could be heard as his hands were cuffed in front of him. He was then led out of the courtroom by U.S. marshals. It was a spectacular fall for a man who prosecutors say portrayed himself as «a savior of the cryptocurrency industry» as he testified before Congress and hired celebrities including Larry David, Tom Brady and Stephen Curry to promote his businesses.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

Former FTX CEO Sam Bankman-Fried had his bail revoked and was sent to jail Friday ahead of his October criminal trial for alleged witness tampering.

cryptocurrency exchange tampered with witnesses at least twice. USA District Judge Lewis Kaplan announced the decision at a hearing in federal court in Manhattan, less than two months before the scheduled October fraud trial. He rejected a defense request to delay Bankman-Fried's detention pending appeal of the bail revocation. The decision could complicate Bankman-Fried's efforts to prepare for trial, where the 31-year-old former billionaire faces charges of having stolen billions of dollars in FTX customer funds to plug losses at his Alameda Research hedge fund. Bankman-Fried has pleaded not guilty.

A federal judge has reportedly revoked former FTX CEO Sam Bankman-Fried’s bail following the release of information to New York Times reporters in an alleged attempt to intimidate witnesses.

By Luc Cohen

FTX founder Sam Bankman-Fried is returning to New York City for a bail hearing

The United States Attorneys’ offices has announced another superseding indictment against former FTX CEO Sam Bankman-Fried (SBF) which will include considering an allegedly illegal campaign finance scheme.

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Lawyers for FTX founder Sam Bankman-Fried say prosecutors are wrong to seek his detention prior to trial because their arguments are based on “innuendo, speculation, and scant facts.”

Connections can be found between Sam Bankman-Fried’s trading firm Alameda Research and the deployer of an alleged crypto scam called BALD.

Lawyers for FTX founder Sam Bankman-Fried say prosecutors are wrong to seek his detention prior to trial because their arguments are based on “innuendo, speculation, and scant facts.”