FTX’s Bankman-Fried headed for jail after judge revokes bail

FTX founder Sam Bankman-Fried faces charges of having stolen billions of dollars in customer funds.

He rejected a defence request to delay Bankman-Fried’s detention pending appeal of the bail revocation. Bankman-Fried has been largely confined to his parents’ Palo Alto, California, home on $250 million bond since his December 2022 arrest. As part of his bail conditions, prosecutors had been able to monitor his telephone and internet activity. Kaplan said he was concerned that Bankman-Fried showed the writings to the reporter during an in-person meeting at his parents’ home.

His lawyer Mark Cohen argued prosecutors mischaracterised his intentions in sharing Ellison’s writings, saying Bankman-Fried wanted to defend his reputation and that he had a right under the US Constitution’s First Amendment to speak to the press.Gag order already in place A July 20 article in the newspaper contained excerpts from Ellison’s personal Google documents prior to FTX’s collapse.

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