Judge Sends Sam Bankman-Frieds Pretrial Release Request to a 3-Judge Panel

Judge Sends Sam Bankman-Frieds Pretrial Release Request to a 3-Judge Panel

Judge Denies Immediate Release for Sam Bankman-Fried

Judge Lewis A. Kaplan, presiding over the case involving the United States Government and former chief of the defunct FTX exchange, Sam Bankman-Fried, has announced an order denying Bankman-Fried’s request for “immediate release.” This order was posted on September 6, as per the files from CourtListener.

Referral to the Next Available Three-Judge Panel

Judge Kaplan of the United States Court of Appeals for the Second Circuit has referred Sam Bankman-Fried’s motion for “pretrial release” to the next available three-judge panel.

Upcoming Trial and Charges

Bankman-Fried’s trial is scheduled to start on October 3. He is facing 7 charges, including wire fraud, securities and commodities fraud, conspiracy to commit money laundering, and illegal political finance charges. Bankman-Fried has pleaded not guilty to all charges.

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Inaccuracies in Government’s Factual Statement

In a separate order released yesterday, Judge Kaplan has requested Bankman-Fried’s lawyers to submit a letter by September 8 to report any inaccuracies in the government’s factual statements. This pertains to a joint letter sent by the Government on Tuesday.

Reviewing Discovery Material in Jail

The letter submitted by Bankman-Fried’s lawyers describes the conditions of computer and internet access he has in the Brooklyn jail for reviewing the case’s discovery material.

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Bail Revoked and Defense Team’s Appeal

Sam Bankman-Fried’s bail was revoked in mid-August due to witness tampering concerns. Ever since, his defense team has appealed for his release, arguing that his detention is impeding his Sixth Amendment right to work on his own defense.

Contradictory States on Access to Laptop

The Government claimed on September 5 that Bankman-Fried had sufficient access to a laptop to review discovery materials at the Metropolitan Detention Center in Brooklyn. Nonetheless, Bankman-Fried’s lawyer, Mark Cohen, refuted these states in a letter.

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Judge’s Request for Reporting Inaccurate Statements

In one of the orders announced by Judge Kaplan, he has requested Bankman-Fried’s defense team to report any inaccurate statements in the government’s claims.

Hot Take

The legal battle surrounding Sam Bankman-Fried’s case continues  as Judge Kaplan denies his request for immediate release. With the trial approaching, the defense team and the Government are engaged in disputes over factual statements and access to materials. The outcome of this high-profile case will have whole lot of implications for the cryptocurrency community and the future regulation of the industry.

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