Judge Denies FTX Founder Sam Bankman-Fried’s Plea for Pretrial Jail Release
The judge overseeing the trial of Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, has rejected his request for pretrial jail release. In court filings, Judge Lewis A. Kaplan explained that Bankman-Fried’s arguments for release lacked substantial weight. Bankman-Fried’s defense team had claimed that he lacked internet access and sufficient time to prepare for the trial, but the judge disagreed, stating that Bankman-Fried had extensive access to electronically stored material for 7 ½ months before his bail was revoked. The trial is set to begin on October 3, and Bankman-Fried faces seven charges related to the collapse of FTX, including wire fraud and money laundering. He has pleaded not guilty to all charges.
“No Right to Inspect Every Bit of Discovery”
Bankman-Fried’s bail was revoked in mid-August due to concerns of witness tampering. Prior to that, he had been living with his parents and had unrestricted internet access. Judge Kaplan stated that Bankman-Fried had sufficient time to prepare for the trial and that newer materials introduced later were accessible through his own Google accounts. The judge also emphasized that Bankman-Fried and his lawyers were offered the option to adjourn the trial but did not request it. Furthermore, Judge Kaplan rejected the premise that Bankman-Fried needed to personally examine all the evidence, highlighting that he has a team of capable lawyers. The FTX founder also failed to provide specific details about materials he claimed he couldn’t access.
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