FTX's Bankman-Fried headed for jail after judge revokes bail
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.
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« Back to recommendation storiesI don't want to see these stories becauseSUBMITFederal prosecutors in Manhattan first made their surprise request to jail Bankman-Fried last month, saying he «crossed a line» by sharing former romantic partner and Alameda Chief Executive Caroline Ellison's personal writings with a New York Times reporter. His lawyers said prosecutors mischaracterized his intentions in sharing Ellison's writings, arguing he wanted to defend his reputation and that he had a right to speak to the press. Bankman-Fried has been largely confined to his parents' Palo Alto, California, home on $250 million bond since his December 2022 arrest. Ellison and two other former members of Bankman-Fried's inner circle have pleaded guilty to fraud and agreed to cooperate with the USA. Attorney's Office in Manhattan. She is expected to testify against him at his scheduled Oct. 2 trial. At a
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