Sam Bankman Fried The former FTX CEO has lost his initial appeal to be released on bail again ahead of his criminal trial.
In a case dated September 6 before the United States Court of Appeals for the Second Circuit, A circuit judge denied a request from Bankman-Fried’s legal team calling for her immediate release from the Metropolitan Detention Center in Brooklyn, Clerk of Court Katherine O’Hagan Wolfe reported. Lawyers for the former FTX CEO petitioned the court for his temporary release, arguing that existing procedures intended to allow Bankman-Fried to help prepare his defense at trial were inadequate due in part to limited Internet access.
“The pretrial release request is sent to the next available panel of three judges,” Wolf said. “To the extent that the appellant requests immediate release pending a decision by the three-judge panel, this request is denied.”
After his extradition from the Bahamas and his appearance before US justice in December 2022, Bankman-Fried was released on $250 million bail and has been largely detained at his parents’ home in California.. However, a federal judge revoked his bond on August 11 following allegations of witness intimidation toward Carolyn Ellison, the former CEO of Alameda Research, with whom Bankman-Fried had a personal and professional relationship.
Bankman-Fried’s attorneys filed several motions after the judge’s bail ruling, asking that SBF be given more time to review evidence in the Brooklyn Jail’s visiting room and the New York court’s attorney’s room, to which access can be granted with sufficient notice to the court. court. The former FTX CEO has nearly four weeks before his trial begins on October 3.
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