Sam Bankman-Fried’s request to delay his detention was officially denied and following his court hearing today in New York, he will be thrown in jail.
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A US federal judge by the name of Lewis Kaplan, denied Sam and his lawyer’s request to cut him some slack and delay his proceedings. The FTX founder who went from rising crypto billionaire to arrested bum overnight has been facing ever worsening outlooks for his final trial.
Originally, Sam was able to dodge US prosecution, and several charges based on a foreign government policy, seeing as he was based in the Bahamas at the time. After his official arrest in December of 2022, Sam was to be locked away at his parents house on house arrest with a bail set at $250 million. Even that steep bail has since been revoked.
Sam Bankman-Fried Is Heading To Jail
BREAKING: Sam Bankman-Fried's bail revoked as federal judge orders FTX founder to jail https://t.co/vidNNrIm21— FOX Business (@FoxBusiness) August 11, 2023
Ever since, the legal battles have been fuming, but as the dust is settling, it appears all is not in favor of the FTX founder. He was accused of witness tampering by Judge Lewis Kaplan, as reported by CNBC, the judge said Sam was caught in a: “pattern of witness tampering and evading his bail conditions.”
Sam had been very actively sharing large amounts of information with news outlets and the media, against his set bail conditions. It turns out that he had sent over 100 emails to the media, along with 1000 calls to the press and related media. These encounters included Sam leaking love letters of his ex-girlfriend, Caroline Ellison, who is also the star witness witness for the trial. He leaked the letters to the New York Times.
If being in trouble for fraudulently using millions and millions of other people’s money, lying to investors and so forth were not enough, Sam Bankman-Fried would not obey the explicit orders given to him concerning the use of the internet, and so as of August 11th, he will be sitting in jail awaiting his criminal trial set for October 2nd.