Former FTX CEO Sam Bankman-Fried bail revoked ahead of October trial


Share post:

Sam Bankman-Fried, the former CEO of the now-bankrupt crypto exchange FTX, had his bail revoked ahead of his October trial, US District Court Judge Lewis Kaplan said on Friday.

The decision came after allegations that Bankman-Fried leaked the diary of Caroline Ellison, the former CEO of FTX’s adjacent firm Alameda Research, to the New York Times. Kaplan announced the decision in a federal court in Manhattan on Friday afternoon. 

Initially, Bankman-Fried requested access to Google Drive, which he said was “for discovery,” Inner City Press reported that Assistant US Attorney Danielle Sassoon said on Friday at the hearing. “Then he used it to give Ms. Ellison’s documents to the New York Times.”

He was formerly under house arrest at his parents home in Palo Alto, California, on a $250 million bond, since his December 2022 arrest, but is now facing repercussions for allegedly intimidating witnesses like Ellison.

The federal judge said a gag order wasn’t sufficient given Bankman-Fried’s repeated misbehavior for crossing “a line

This is a developing story and will be updated as more information arises. 

Source link

Lisa Holden
Lisa Holden
Lisa Holden is a news writer for LinkDaddy News. She writes health, sport, tech, and more. Some of her favorite topics include the latest trends in fitness and wellness, the best ways to use technology to improve your life, and the latest developments in medical research.

Recent posts

Related articles

GIC in talks to lead $40 million funding in India’s Vegrow

GIC is in talks to invest in the Indian startup Vegrow, which runs a business-to-business marketplace for...

Spotify launches Jam, a real-time collaborative playlist controlled by up to 32 people

Spotify is today introducing its latest social feature, Jam, which allows multiple people to blend their own...

Google is killing Gmail’s basic HTML view in 2024

Another day, another Google product goes to the graveyard. The company is sunsetting Gmail’s basic HTML view,...

Telegram starts to look like a super app, echoing WeChat

Telegram, the popular messenger with 800 million monthly active users worldwide, is inching closer to adopting an...

Amazon’s outgoing Echo head is Blue Origin’s new CEO

Blue Origin CEO Bob Smith is retiring at the end of the year and his replacement is...

Ford halts work on $3.5B EV battery factory with China’s CATL

Ford confirmed Monday it has immediately stopped work at a $3.5 billion factory in Michigan that was...

Signal’s Meredith Whittaker: AI is fundamentally ‘a surveillance technology’

Why is it that so many companies that rely on monetizing the data of their users seem...

New SEC cybersecurity disclosure rules: What you need to know to stay in compliance

Cinthia Motley Contributor Cinthia Motley is the Director of Dykema’s Global Data Privacy and Information Security Practice Group and...