Key takeaways:
- Samuel Bankman-Fried was ordered to be sent to jail on Friday by a federal judge in New York.
- The Justice Department alleged that Bankman-Fried had been trying to influence witnesses in his fraud case.
- The Justice Department has characterized Bankman-Fried’s actions as a “pattern of witness tampering and evading his bail conditions.”
Samuel Bankman-Fried, the founder of cryptocurrency trading firm FTX, was ordered to be sent to jail on Friday by a federal judge in New York. The judge, Lewis A. Kaplan, revoked Bankman-Fried’s $250 million bail package and denied his request for delayed detention pending an appeal.
The Justice Department alleged that Bankman-Fried had been trying to influence witnesses in his fraud case, which is the latest in a series of pre-trial hearings related to the ex-billionaire’s continued dealings with the press. Prosecutors said Bankman-Fried had tried to harass a key witness last month by showing a journalist the private writings of his ex-girlfriend Caroline Ellison, who was the CEO of Alameda Research.
Bankman-Fried’s parents were in the courtroom during the hearing, and the judge said he had reached out to witnesses in violation of his bail conditions. The judge also noted that Bankman-Fried had been evading his bail conditions, which require him to remain at his parents’ Palo Alto, California house.
The Justice Department has characterized Bankman-Fried’s actions as a “pattern of witness tampering and evading his bail conditions.” Bankman-Fried is currently being held in a federal detention center, and his case is ongoing. It is unclear at this time what the outcome of the case will be.
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