FTX Founder Sam Bankman-Fried Denied Pretrial Release
With his trial just a month away, Sam Bankman-Fried, the founder of FTX crypto exchange, is seeking to be released ahead of his court date. However, his request has been denied by the court. Bankman-Fried’s lawyers argued that he lacks an adequate internet connection to review documents crucial to his defense. They had previously attempted to have him released on weekends to work with his legal team, but that request was also rejected.
In a filing on September 8, Bankman-Fried and his lawyers requested pretrial release, but United States District Judge Lewis A. Kaplan dismissed the request in a filing on September 12. The judge stated that Bankman-Fried had not provided sufficient evidence for the release and that his claims of limited access to electronically stored discovery materials were unsupported.
Judge Kaplan emphasized that Bankman-Fried had ample time to prepare for trial before his bail was revoked and that the time constraints were of his own making. The judge also reminded him that he did not have to personally review every piece of discovery and that his legal team should be capable of doing so.
The FTX founder is still scheduled to stand trial on October 3 for charges including campaign finance violations, fraud, and money laundering.
Hot Take: FTX Founder Denied Pretrial Release
Sam Bankman-Fried’s request for pretrial release has been denied by the court, further complicating his situation ahead of the upcoming trial. Despite claiming limited access to important documents due to internet connectivity issues, the judge ruled against granting him freedom before the trial. This decision highlights the court’s skepticism towards Bankman-Fried’s arguments and reinforces their belief that he had ample time to prepare prior to his bail being revoked. As the trial date approaches, the FTX founder will have to navigate the legal proceedings from a position of limited access to information. This denial of pretrial release adds another layer of challenge for Bankman-Fried as he faces multiple charges in court.
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