US Court Denies Sam Bankman-Fried’s Bail Request Ahead of Trial
A US court has rejected Sam Bankman-Fried’s plea for release on bail before his upcoming trial. The disgraced founder of FTX will remain in custody until the trial begins next month. The appeals court upheld the decision, stating that the district court had considered alternative options to detention and tightened the conditions of release due to Bankman-Fried’s conduct.
Bankman-Fried’s Lawyers Cite Connectivity Issues
Bankman-Fried’s lawyers had requested temporary release in late August to work on his defense at the federal courthouse in Manhattan. They argued that poor internet connectivity and limited battery life hindered their efforts. However, Judge Lewis Kaplan declined the request, leading the lawyers to file another pre-trial release request on September 5, citing obstacles created by the correctional facility’s conditions.
Department of Justice Claims Sufficient Access to Laptop
In response to the request, the Department of Justice (DOJ) argued that Bankman-Fried had adequate access to a laptop computer for his defense. They stated that internet speed fluctuated between 7.5 Mbps and 34 Mbps throughout the day, which was sufficient for most internet-related review activities.
Bankman-Fried’s Trial Date and Charges
The trial is scheduled to begin on October 3rd in a federal courtroom in Manhattan. Bankman-Fried faces charges of fraud and conspiracy related to his cryptocurrency exchange’s operation and collapse. He has pleaded not guilty to all seven charges.
Jury Selection Raises Concerns
Both Bankman-Fried and the DOJ submitted voir dire questions earlier this month to identify potential jurors familiar with the case, crypto, or effective altruism. The DOJ expressed concerns about intrusive questions that may support the defendant’s defense narrative. They particularly objected to queries about jurors’ opinions regarding FTX and Bankman-Fried, as well as questions related to effective altruism.
Hot Take: Bankman-Fried’s Request for Bail Denied Ahead of Trial
A US court has rejected Sam Bankman-Fried’s request for release on bail before his upcoming trial. Despite his lawyers’ claims of poor internet connectivity and limited battery life hindering their defense preparations, the court upheld the decision to keep him in custody. Bankman-Fried’s trial is set to begin next month, where he will face charges of fraud and conspiracy related to his cryptocurrency exchange. The DOJ has raised concerns over proposed jury questions, suggesting they may be intrusive and intended to shape a defense narrative. The outcome of the trial will determine the future of Bankman-Fried and his involvement in the crypto industry.
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