{"id":31260,"date":"2023-08-11T19:44:50","date_gmt":"2023-08-11T19:44:50","guid":{"rendered":"https:\/\/entertainment.runfyers.com\/index.php\/2023\/08\/11\/former-ftx-ceo-sam-bankman-frieds-bail-revoked-ahead-of-october-trial-techcrunch\/"},"modified":"2023-08-11T19:44:50","modified_gmt":"2023-08-11T19:44:50","slug":"former-ftx-ceo-sam-bankman-frieds-bail-revoked-ahead-of-october-trial-techcrunch","status":"publish","type":"post","link":"https:\/\/entertainment.runfyers.com\/index.php\/2023\/08\/11\/former-ftx-ceo-sam-bankman-frieds-bail-revoked-ahead-of-october-trial-techcrunch\/","title":{"rendered":"Former FTX CEO Sam Bankman-Fried&#8217;s bail revoked ahead of October trial | TechCrunch"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>Sam Bankman-Fried, the former CEO of the <a href=\"https:\/\/techcrunch.com\/2022\/11\/11\/ftx-files-for-bankruptcy-ceo-sam-bankman-fried-steps-down\/\" target=\"_blank\" rel=\"noopener\">now-bankrupt<\/a> crypto exchange FTX, had his bail revoked ahead of his October trial, US District Court Judge Lewis Kaplan said on Friday.<\/p>\n<p>The decision came after allegations that Bankman-Fried leaked the diary of Caroline Ellison, the former CEO of FTX\u2019s investment-arm Alameda Research, to the New York Times. Kaplan announced the decision in a federal court in Manhattan on Friday afternoon.<\/p>\n<p>Bankman-Fried is <a href=\"https:\/\/techcrunch.com\/2022\/12\/13\/sec-cftc-and-sdny-attorneys-office-charge-ftxs-sam-bankman-fried-with-defrauding-investors\/\" target=\"_blank\" rel=\"noopener\">facing a number of charges<\/a>, including defrauding FTX investors, from the U.S. Securities and Exchange Commission, the Commodity Futures Trading Commission and the Southern District of New York\u2019s attorney\u2019s office. He <a href=\"https:\/\/techcrunch.com\/2023\/01\/03\/ftx-former-ceo-sbf-pleads-not-guilty-to-u-s-criminal-charges\/\" target=\"_blank\" rel=\"noopener\">plead not guilty<\/a> to U.S. criminal charges earlier this year.<\/p>\n<p>Initially, Bankman-Fried requested access to Google Drive, which he said was \u201cfor discovery,\u201d Inner City Press reported that Assistant US Attorney Danielle Sassoon<a href=\"https:\/\/twitter.com\/innercitypress\/status\/1690063950941974528?s=20\" target=\"_blank\" rel=\"noopener\"> said<\/a> on Friday at the hearing. \u201cThen he used it to give Ms. Ellison\u2019s documents to the New York Times.\u201d<\/p>\n<p>In a July 26 hearing, Kaplan inhibited Bankman-Fried from speaking publicly about his case, six days after the New York Times article on Ellison\u2019s diary was <a href=\"https:\/\/www.nytimes.com\/2023\/07\/20\/technology\/ftx-caroline-ellison-bankman-fried.html\" target=\"_blank\" rel=\"noopener\">published<\/a>.<\/p>\n<p>He was formerly under house arrest at his parents\u2019 home in Palo Alto, Calif., on a $250 million bond, since his December 2022 arrest, but is now facing repercussions for allegedly intimidating witnesses like Ellison.<\/p>\n<p>The federal judge said a gag order wasn\u2019t sufficient given Bankman-Fried\u2019s repeated misbehavior for<a href=\"https:\/\/www.reuters.com\/legal\/sam-bankman-fried-due-back-court-judge-weighs-bail-conditions-2023-07-26\/\" target=\"_blank\" rel=\"noopener\"> crossing \u201ca line<\/a>.\u201d<\/p>\n<p>Kaplan <a href=\"https:\/\/twitter.com\/innercitypress\/status\/1690080599472472064?s=20\" target=\"_blank\" rel=\"noopener\">said<\/a> during the hearing there is a \u201cpossibility that he will be detained at the [The Metropolitan Detention Center], not on anyone\u2019s list of five star facilities.\u201d But noted Bankman-Fried may be able to have a \u201cdedicated laptop\u201d at the jail in Brooklyn, New York, for nine to 11 hours a day.<\/p>\n<p>In late December, Ellison and former FTX co-founder Gary Wang <a href=\"https:\/\/techcrunch.com\/2022\/12\/22\/ftx-co-founder-gary-wang-and-alamedas-caroline-ellison-plead-guilty-to-criminal-charges\/\" target=\"_blank\" rel=\"noopener\">plead guilty<\/a> to multiple charges and accepted plea agreements that offer reduced sentencing in exchange for cooperating with U.S. authorities.<\/p>\n<p><em>This is a developing story and may be updated as more information arises. <\/em><\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/techcrunch.com\/2023\/08\/11\/former-ftx-ceo-sam-bankman-fried-bail-revoked-ahead-of-october-trial\/\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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\u2019s investment-arm Alameda Research, to the New York Times. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":31261,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":{"0":"post-31260","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tech"},"_links":{"self":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/31260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=31260"}],"version-history":[{"count":0,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/31260\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/31261"}],"wp:attachment":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=31260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=31260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=31260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}