- Bankman-Fried was transferred to the Metropolitan Detention Middle in Brooklyn on Monday, per Reuters.
- Authorities moved the previous FTX CEO after U.S. District Decide Lewis Kaplan revoked his $250 million bail bond.
- The crypto founder was beforehand residing at his dad and mom’ home in Palo Alto the place he allegedly tampered with witnesses and leaked a non-public diary.
- SBF will stay in a federal jail cell pending his trial for fraud costs.
Authorities transferred former FTX CEO Sam Bankman-Fried to a federal jail in Brooklyn after a U.S. revoked SBF’s $250 million bail bond.
Bankman-Fried was moved to Brooklyn’s Metropolitan Detention Middle (MDC) forward of his trial beginning in October. SBF’s beforehand lived at his dad and mom’ residence in Palo Alto, California till final week.
Decide Lewis Kaplan dominated to cancel SBF’s bail circumstances after reviewing arguments on his alleged witness tampering. Prosecutors raised complaints after Bankman-Fried leaked Caroline Ellison’s personal diary to the New York Occasions. His attorneys subsequently requested the courtroom to seal the dairy, a transfer that puzzled observers whereas the Justice Division argued for jail time.
Bankman-Fried’s attorneys appealed Decide Kaplan’s determination to revoke bail shortly after his arrest. Nevertheless, SBF will possible put together his protection from a federal jail cell.
Inmates of Brooklyn’s MDC like former president of Honduras Juan Orlando Hernandez and exiled Asian businessman Guo Wengui each described the jail as harmful. That is the second jail Bankman-Fried has checked into since FTX’s collapse.
SBF was beforehand held on the Fox Hill Jail within the Bahamas, one other jail infamous for its poor circumstances.
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Prosecutors charged SBF on 12 counts together with fraud following the crash of FTX final November. Authorities dialed again on marketing campaign finance violation costs as a consequence of a difficulty with Sam’s extradition papers from the Bahamas. This explicit cost was not included within the settlement, per stories.
SBF’s trial is scheduled to start on October 2 in what consultants say is the largest fraud case in America’s historical past.