Former FTX CEO Bankman-Fried Has Bail Revoked, Heads To Jail
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.
In his bond hearing New York on Friday, federal prosecutors arguedBankman-Fried's bail should be revoked because he tampered with witnesses. Soon after being sent into custody, Bankman-Fried appealed the order.
«There is probable cause to believe that the defendant had committed the federal crime of attempted witness tampering,» Judge Kaplan's order said. «There is no condition or combination of conditions of release that will assure that the defendant will not pose a danger to other persons or the safety of the community.»
During the hearing, federal prosecutors argued that Bankman-Fried used access to documents in a Google Drive meant for discovery to intimidate former girlfriend and Alameda Research CEO Caroline Ellison, who is a witness in Bankman-Fried's criminal case related to the collapse of FTX.
These allegations stem from Bankman-Fried's contact with The New York Times, which resulted in a July article featuring parts of Ellison's diary.
Bankman-Fried has been under house arrest since December because of his alleged role in the collapse of crypto exchange FTX and the mismanagement of customer funds.
As a result of Friday's hearing, he will now be sent back to jail until his trial begins on Oct. 2. Bankman-Fried will be provided with a laptop or access to a desktop computer in order to prepare for his trial with his legal team.
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