FTX founder Bankman-Fried goes back to jail for trying to get smart
FTX founder Sam Bankman-Fried (SBF) returned to jail when the judge in charge of the case revoked his bail on alleged witness intimidation after he showed a NY Times reporter private writings by his ex-girlfriend and business partner in business, Caroline Ellison, and used a connection via VPN in violation of a previous order not to.
BREAKING: Sam Bankman-Fried (SBF) Will Go To Jail – Bail Revoked
SBF will go to jail ahead of his October trial on various fraud and conspiracy charges.
More information to come pic.twitter.com/BPFHsquDmO
— Sulaiman Ahmed (@ShaykhSulaiman) August 11, 2023
The 31-year-old Bankman-Fried was remanded directly into pretrial detention and will remain in a New York federal detention center until his trial begins on Oct. 2.
Late last month the Justice Department sought to lift SBF's bail due to leaked confidential chat to the press and use of the Signal messaging system which deletes sent messages after a certain time.
Given this evidence, Judge Lewis Kaplan could have dismissed SBF's actions as an attempt to improperly influence witnesses and could have chosen to make further changes to his parole or revoke his bail entirely. Obviously, Kaplan chose the latter.
“The documents are partly personal and intimate. They are person oriented, not business oriented. There is something that someone who has been in an affair is unlikely to share with anyone other than to hurt and scare the subject,” Judge Kaplan said, adding “In light of the evidence, my conclusion is that there are probable reasons for hold that the defendant attempted to tamper with witnesses at least twice under Section 1512(b).”
Furthermore, Bankman-Fried would have used a VPN connection to simulate his stay in the Bahamas and use his account on the island to watch sporting events. The act would show the permanent willingness of the accused to carry out acts contrary to the law.
FTX, the company founded by SBF, was one of the first centralized exchanges in the world, which even allowed itself to sponsor the Miami stadium, declared bankruptcy at the end of 2022, leaving a hole estimated to be around 9 billion dollars and 5 millions of customers locked into their own funds. SBF carried out every financial heinousness together with his girlfriend at the time Caroline Ellison, who prided himself on not doing risk analysis. You cooperated with the authorities, placing all the blame on him…
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The article The founder of FTX Bankman-Fried goes back to jail: he tried to be smart comes from Scenari Economici .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/il-fondatore-di-ftx-bankman-fried-torna-in-galera-ha-cercato-di-fare-il-furbo/ on Sat, 12 Aug 2023 08:00:35 +0000.