Judge Revokes Bail For Accused Bitcoin Scammer

August 11, 2023 Business, Crime

A U.S judge on Friday revoked Sam Bankman-Fried’s bail, after finding probable cause that the indicted founder of the bankrupt FTX cryptocurrency exchange tampered with witnesses at least twice.

U.S. District Judge Lewis Kaplan announced the decision at a hearing in federal court in Manhattan, less than two months before the scheduled October fraud trial. He rejected a defense request to delay Bankman-Fried’s detention pending appeal of the bail revocation.

Federal prosecutors in Manhattan first made their surprise request to jail Bankman-Fried last month, saying he “crossed a line” by sharing former romantic partner and Alameda Chief Executive Caroline Ellison’s personal writings with a New York Times reporter.

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BREAKING: A bail hearing for FTX founder Sam Bankman-Fried left a judge convinced that he had repeatedly tried to influence witnesses against him. The judge then revoked his bail. https://t.co/yS7U31CGUI

— The Associated Press (@AP) August 11, 2023