The US Department of Justice (DoJ) is seeking the SBF’s bail to be revoked.
The lawsuit of Sam Bankman-Fried (SBF), former CEO of FTX, is ongoing. While the SBF was prosecuted for multiple crimes, the DoJ requested that SBF be released from bail.
DoJ seeks SBF’s bail lifted
According to the information in the file, the United States Department of Justice (DOJ) is seeking the cancellation of the bail of Sam Bankman-Fried (SBF), CEO of cryptocurrency exchange FTX. DOJ accuses SBF of attempting to falsify witnesses and leaking Caroline Ellison’s diary to The New York Times by contacting FTX USA’s current general counsel.
SBF has requested multiple bail changes after being released for bonds on December 22, 2022. According to the dossier, on January 15, 2023, the defendant reached out to the current general counsel of FTX USA via email and encrypted messaging app Signal, questioning the possibility of establishing a relationship and using each other as resources.
It is also alleged that SBF is using Signal to block it, and the app’s auto-delete feature complicates the investigation. The court notes the potential risk of witness tampering due to SBF’s actions.
Upon these developments, it is stated that Judge Lewis Kaplan may choose to change the SBF’s bail conditions or cancel his bail altogether. According to John Reed Stark, former US Securities and Exchange Commission Internet Enforcement Office chief, Kaplan’s decision will be a difficult process. If SBF is allowed to go free, it will likely receive stricter warnings.
All of these events came to light after the July 26 trial in Manhattan court. Prosecutor Danielle Sassoon requested that SBF’s bail be revoked, citing allegations that she used her freedom to intimidate her former romantic partner and colleague, Ellison. Sassoon also reported that the SBF attempted to intimidate Ellison and made approximately 100 phone calls.
All these accusations raise serious concern about SBF’s future due process and bail status, and Judge Kaplan’s decision will be of significant importance.
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