2023-08-11 22:29:00
Sam Bankman-Fried
The FTX founder is in prison awaiting his sentence.
(Photo: Reuters)
New York FTX founder Sam Bankman-Fried is in jail for bail violations. US District Judge Lewis Kaplan, at a court hearing Friday, agreed to prosecutors’ motion to overturn the bail order because Bankman-Fried attempted to intimidate witnesses. His defense announced an appeal.
The accused repeatedly crossed red lines, explained Kaplan. “There is reason to believe that the defendant attempted to manipulate witnesses on at least two occasions.”
The judge denied a defense motion to stay Bankman-Fried’s detention pending an appeal. Bankman-Fried was taken away in handcuffs after the hearing.
The 31-year-old is accused of fraud and money laundering. He diverted huge sums of money from investors from his platform and used it to buy luxury real estate, make donations to politicians and carry out risky financial transactions.
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