Sam Bankman-Fried has been found guilty of violating bail conditions and as a result, he has been sentenced to jailSam Bankman-Fried [SBF] – the founder and former CEO of FTX – will be heading straight to prison for tampering with evidence. Additionally, a violation breaches one of the terms agreed upon for the bail of the former crypto bigwig. And, in accordance, the court revoked his bail in a hearing earlier today.
Notably, the hearing held today centred on the US Department of Justice’s move to jail SBF for tampering with witnesses. The DoJ brought up the use of a Virtual Private Network [VPN], claimed to have been used to watch a football game, and contact with the FTX.US counsel. Importantly, the DoJ pursued jail time for SBF for leaking Alameda CEO –Speaking about the leak of Ellison’s diary, Judge Lewis Kaplan stated that its nature was “in part personal and intimate”.
Given the new verdict, Sam Bankman-Fried will not be detained at the Metropolitan Detention Center [MDC]. Judge Lewis Kaplan had also allowed him to have a laptop for 11 hours a day. However, the US Government proposed a different recommendation, which stated, “We propose Putnam because where we are in the case, it could take weeks to load a laptop. So we say Putnam with ‘Net”.
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Source: CryptoAmb - 🏆 22. / 68 Read more »