2023-08-12 02:24:08
The founder of the collapsed cryptocurrency exchange FTX, Sam Bankman-Fried, has to end his house arrest and go to jail instead. Image: Reuters
Former billionaire Bankman-Fried faces 13 counts, including fraud and conspiracy. In the run-up to his trial, he is said to have tried to influence witnesses. He was taken away in handcuffs.
The founder of the collapsed cryptocurrency exchange FTX, Sam Bankman-Fried, has to end his house arrest and go to jail instead. Judge Lewis Kaplan on Friday dismissed bail and ordered the 31-year-old to leave his parents’ home in California and be held in custody in the Brooklyn borough of New York. Bankman-Fried is said to have tried to intimidate witnesses, the court in New York said on Friday.
According to American media reports, Bankman-Fried was taken into custody immediately after the hearing. Bailiffs handcuffed him and took off his jacket, tie and shoelaces and led him away, the New York Times reported. The accused’s parents followed the events with tears.
“He’s pushed the limit over and over again and I’m withdrawing the bail option,” Kaplan said in announcing his decision, according to US media reports. Former billionaire Bankman-Fried faces 13 counts, including fraud and conspiracy. His trial is scheduled to begin on October 2nd.
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The entrepreneur was arrested on December 12, 2022 at the instigation of the US judicial authorities in the Bahamas. FTX had its headquarters there. Before the collapse, these were one of the largest trading centers for so-called cryptocurrencies such as the digital money Bitcoin.
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