By Luc Cohen NEW YORK - Lawyers for Sam Bankman-Fried on Tuesday are set to urge a U.S. appeals court to free him from a Brooklyn jail as the former cryptocurrency billionaire races toNEW YORK - Lawyers for Sam Bankman-Fried on Tuesday are set to urge a U.S. appeals court to free him from a Brooklyn jail as the former cryptocurrency billionaire races to prepare for his Oct. 3 trial on federal fraud changes.
U.S. District Judge Lewis Kaplan revoked Bankman-Fried's $250 million bail on Aug. 11, finding probable cause to believe that the defendant had tampered with witnesses. This included his sharing the personal writings of Caroline Ellison, the former chief executive of his Alameda Research hedge fund, with a New York Times reporter.
Bankman-Fried faces seven charges of fraud and conspiracy stemming from the November 2022 collapse of his now-bankrupt company. Prosecutors accused him of looting billions of dollars in FTX customer funds to plug losses at Alameda, buy luxury real estate and donate to U.S. political campaigns. He has pleaded not guilty, while acknowledging risk management failures.
Bankman-Fried also said jailing him violates his right under the Constitution's Sixth Amendment to aid in his own defense because his case is complicated and jail officials have not given him"ready access" to his lawyers and to computers to review the voluminous evidence.
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