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FTX's SBF Headed to Jail: Details

Fri, 11/08/2023 - 19:45
Sam Bankman-Fried, the embattled founder of the defunct FTX cryptocurrency exchange, faces imminent jail time
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FTX's SBF Headed to Jail: Details
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FTX founder Sam Bankman-Fried is poised to serve jail time.

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Based on findings, U.S. District Judge Lewis Kaplan concluded there exists credible evidence that Bankman-Fried was involved in witness tampering on multiple occasions, leading to the decision to revoke his bail.

Previously under house arrest in Palo Alto, California since the previous December, Bankman-Fried's situation was further complicated by a series of information leaks.

Kaplan stated that a gag order wouldn't be a feasible solution in the long run, especially when it comes to someone who constantly challenges and tests the limits.

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The defense is not backing down. Bankman-Fried's attorney has already announced intentions to appeal the bail revocation, requesting a delay in his client's detention pending the outcome of the appeal. Yet, this request was swiftly denied by Judge Kaplan. 

Bankman-Fried refuted allegations of witness tampering ahead of his upcoming fraud trial. 

As reported by U.Today, he was released from Manhattan federal court on a $250 million personal recognizance bond back in December.

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