What Sam Bankman-Fried’s revised bail terms entail
Sam Bankman-Fried’s defense team and the prosecutors assigned to his case have agreed over the terms of the disgraced crypto tycoon’s bail conditions. The modified bail terms will apply to the former FTX CEO while he awaits trial in the criminal case filed against him by the United States Department of Justice.
According to the documents filed in the U.S. District Court for the Southern District of New York, Sam Bankman-Fried will be allowed to use a cellphone with no internet connection. The phone would allow the disgraced CEO to make phone calls and communicate through SMS. All other communication devices are off-limits for SBF.
Bankman-Fried will also have access to a laptop with restricted access, which will only let him view pre-approved websites. The laptop will have monitoring software to track SBF’s activities. Additionally, in the event that there is a reasonable suspicion of violation, the devices will be called for a search.
The prosecutors have agreed to let Sam Bankman-Fried remain at his family home in Palo Alto, California. But this will be allowed only if his parents agree to certain conditions. These include not letting him access their personal devices and not letting him bring unauthorized devices into the residence. All conditions have reportedly been agreed upon.
However, the modified bail terms are subject to approval from Judge Lewis Kaplan, who is overseeing the criminal case.
Calls for stricter bail terms intensified last month after prosecutors found out that SBF had contacted former employees to influence their testimony. Judge Kaplan warned that SBF’s house arrest may be revoked and he could be sent to jail over his actions.
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