Sam Bankman-Fried ordered by court of appeals to remain in jail
foxbusiness.comSecurities attorney Andrew Stoltmann joins ‘The Big Money Show’ to discuss FTX founder Sam Bankman-Fried entering court as the government steps up its crypto crackdown.
Former FTX CEO Sam Bankman-Fried was ordered to remain in jail, upholding a judge’s decision to jail the cryptocurrency billionaire as he awaits trial Oct. 3, for fraud charges linked to the November 2022 collapse of his now-bankrupt company.
The 2nd U.S. Circuit Court of Appeals in Manhattan issued the decision Thursday, more than a month after U.S. District Judge Lewis Kaplan revoked Bankman-Fried’s $250 million bail on Aug. 11.
The bail was revoked by the judge after probable cause was presented, leading some to believe Bankman-Fried trampled with witnesses.
SAM BANKMAN-FRIED SIPHONED $100M STOLEN FROM CUSTOMERS INTO US POLITICS TO INFLUENCE CRYPTO LEGISLATION: FEDS
Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, arrives at court as lawyers push to persuade the judge overseeing his fraud case not to jail him ahead of trial, at a courthouse in New York. (Reuters / Eduardo Munoz / File / Fox News / Reuters Photos)
The evidence included him sharing personal writings from former chief executive of his Alameda Research hedge fund, Carline Ellison, with a reporter from the New York Times.
Ellison is expected to testify against Bankman-Fried, having pleaded guilty to fraud.
The two were once romantic partners, and she wrote about being «unhappy and overwhelmed» with her job and «hurt/rejected» after a breakup with Bankman-Fried.
FTX SUES SAM BANKMAN-FRIED'S PARENTS, SEEKING TO CLAW BACK MILLIONS
Alameda Research CEO Caroline Ellison reportedly admitted to knowingly misleading lenders the company's financial ties to FTX. (Twitter
Read more on foxbusiness.com
