Crypto Tycoon Sam Bankman-Fried Faces Jail Time for Alleged Witness Tampering
  • 8 months ago
FTX founder Sam Bankman-Fried was sent to jail on Friday after a judge agreed with federal prosecutors' request to revoke his bail due to alleged witness tampering. Bankman-Fried had been on bail since his arrest in December, but Judge Lewis Kaplan denied his request for delayed detention pending an appeal. The judge found probable cause to believe that Bankman-Fried attempted to tamper with witnesses and expressed concerns over his interactions with the media. The prosecution claimed that Bankman-Fried's communication with the press was a form of witness intimidation. His criminal trial, related to wire and securities fraud charges tied to alleged FTX fraud, is scheduled to begin on October 2. Despite objections from the press and defense attorneys, the judge ordered his detention, stating that his revised bail conditions would include restricted internet access and a ban on smartphone use.
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