Sam Bankman-Fried headed to jail after bail revoked

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A judge is sending the founder of bankrupt crypto firm FTX to jail while awaiting trial on fraud charges.

Sam Bankman-Fried, who was arrested on fraud charges last year after the collapse of his cryptocurrency firm, must await trial behind bars, a US judge has ordered.

The former billionaire denied the claims and was released to his parents' home in Palo Alto, California on a $250m bond. The latest request from prosecutors was sparked by a July article in the New York Times, which quoted confessional writings by Caroline Ellison, Mr Bankman-Fried's sometime girlfriend and the former chief executive of the hedge fund he founded, Alameda Research.

Prosecutors said Mr Bankman-Fried had shared the documents to try to make his case in the media that Ms Ellison was a "jilted lover" who had worked alone.

 

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