Former FTX CEO Sam “SBF” Bankman-Fried will stay in jail at the very least till the beginning of his Oct. 3 prison trial following an order from a federal choose.
In a Sept. 28 listening to within the United States District Court for the Southern District of New York, Judge Lewis Kaplan denied a movement from SBF’s authorized staff requesting the former FTX CEO be given temporary release in an effort to put together for his trial. Bankman-Fried’s lawmakers had made repeated makes an attempt to argue for release since Kaplan revoked his bail on Aug. 11 attributable to allegations of witness intimidation. The matter twice went to an appellate court docket with out success for SBF’s staff.
Kaplan reportedly suggested that SBF may be a flight danger if “things begin to look bleak” at trial, contemplating his age and potential jail time. Though the choose denied SBF an early release, he added that the previous FTX CEO could have the chance to reach at court docket early on sure days to confer together with his authorized staff.
Related: FTX founder’s plea for temporary release should be denied, prosecution says
The final preparations for Bankman-Fried’s trial are underway as many out and in of the crypto area await revelations associated to alleged fraud at FTX as effectively within the testimony of former Alameda Research CEO Caroline Ellison. On Sept. 27, Judge Kaplan granted some “housekeeping” motions allowing SBF to wear a suit at trial along with utilizing an air-gapped laptop computer within the courtroom for taking notes.
The Oct. 3 trial would be the first of two for Bankman-Fried. He will face seven fees associated to the misuse of buyer funds in October and 5 further fees at a second trial scheduled for March 2024. SBF has pleaded not responsible to all counts.
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