The ex-CEO of FTX, which was one of the most important crypto platforms, should still wait a bit before regaining his freedom. Arrested since last December in the Bahamas, Sam Bankman Fried has since been refused bail. Bail restrictions will remain in place until February 21. decision of the judge follows the extension of its ban on using certain messaging apps.
SBF release restrictions extended
The ousted founder and CEO of the FTX cryptocurrency exchange platform was arrested on the evening of Monday, December 12 on the islands of the Bahamas at the request of the US government. Sam Bankman Fried is charged with eight counts, according to the prosecutor, including electronic fraud, money laundering and violation of electoral laws. Since then, his lawyers have continued to seek bail, to no avail!
Again, earlier this week, a federal judge reportedly ruled against arguments proposing that former FTX CEO Sam Bankman-Fried be allowed to use certain messaging apps. To believe one Reuters report of February 9, Judge Lewis Kaplan of the Court for the Southern District of New York in the United States affirmed his decision. Bankman-Fried is banned from using encrypted messaging apps as a condition of his release on a $250 million contract. Indeed, the judge ordered SBF to do not communicate using apps such as Signal on February 1. However, the former CEO’s legal team and attorneys had negotiated a deal allowing exceptions, including Facebook Messenger, Zoom, and FaceTime.
Sam Bankman Fried remains under house arrest with his parents
Three months after the bankruptcy of his box, Bankman should still enjoy his passion for video games, particularly ” Storybook Brawl “. It remains decided, to this day, that the former CEO of FTX will await his trial in ten years in the family home where he has been assigned since his release on bail.
Judge Kaplan reportedly said he was far less interested in Bankman-Fried’s convenience than in SBF contacting potential witnesses in his criminal case. Indeed, court documents showed he contacted FTX’s US General Counsel, Ryne Miller, and current FTX CEO, John Ray. Sam Bankman Fried allegedly contacted Miller via Signal and email on Jan. 15, attempting to influence his testimony. ” I would really like to reconnect and see if there is a way for us to have a meaningful relationship, use each other as resources when possible, or at least check things in with each other “, he would have written. These allegations were made by Daniel Friedberg, former chief regulatory officer of FTX until his resignation on November 8. He did so as part of a January 19 court filing.
Additionally, Bloomberg reported that the judge said that Sam Bankman Fried might be smart enough to cipher something without a computer. He suggests that the current bail restrictions were necessary. ” There’s still snail mail and there’s still email and there are all kinds of ways to communicate that don’t have the same risks. said Judge Kaplan.
Still eight months before the start of the trial
As a reminder, Sam Bankman Fried appeared in court in person as part of the bond hearing. He remains largely confined to his parents’ California home since his arraignment. At the latest, his bail restrictions would remain in place until February 21. This was decided by the judge of the Southern District of New York, Lewis Kaplan.
The criminal trial of Sam Bankman Fried remains fixed for next October. He will face eight counts. Among other things, electronic fraud and violations of campaign finance law. The U.S. Attorney’s Office has asked the court to issue an order suspending sare civil affairs. The same goes for the discovery of the Securities and Exchange Commission and the Commodity Futures Trading Commission. Until the criminal case is resolved. Pending the outcome of this trial, the FTX debacle continues to fuel the lack of confidence users in crypto exchanges.
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