An appeals court delays ruling on Sam Bankman-Fried’s pre-trial detention
An appeals court has chosen not to make a decision on former FTX CEO Sam Bankman-Fried’s appeal to end his pre-trial detention on federal fraud charges. This comes just two weeks before his trial is scheduled to begin. The 2nd U.S. Circuit Court of Appeals stated that they will consider both sides’ arguments before making a judgment.
Continued setbacks for Bankman-Fried
This delay is another setback for Bankman-Fried, as he has been unsuccessful in securing the end of his pre-trial detention since being imprisoned in August. His defense team has argued that he cannot adequately prepare for his trial while in jail, but prosecutors maintain that he poses a threat to witnesses if released on bail. The judge overseeing the case has sided with the prosecution.
Likelihood of staying in jail until trial
If this appeal is denied, it is highly unlikely that Bankman-Fried will be able to secure release from jail before his trial begins on October 3rd. He was sent to the Metropolitan Detention Center in Brooklyn after allegedly tampering with key witnesses, including his former partner and Alameda Research CEO Caroline Ellison, which violated the conditions of his bail.
Hot Take: Uncertain fate awaits Bankman-Fried
The decision by the appeals court to delay ruling on Sam Bankman-Fried’s pre-trial detention prolongs the uncertainty surrounding his fate. With his trial fast approaching and multiple failed attempts to secure release from jail, Bankman-Fried faces an uphill battle. The arguments presented by both sides will be carefully considered before a judgment is made. Until then, he remains incarcerated at the Metropolitan Detention Center, potentially impacting his ability to adequately prepare for his defense. As the trial date looms closer, Bankman-Fried’s future hangs in the balance.
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