FTX co-founder Sam Bankman-Fried seeks weekday freedom; here’s why
- SBF sought release to collaborate with his legal team while incarcerated.
- Prosecutors raised concerns over Bankman-Fried’s disclosure of advice received for his defense strategy.
FTX co-founder Sam Bankman-Fried (SBF), who was recently incarcerated after having his $250 million bail revoked, is now seeking permission to be released five days a week to collaborate on his defense case with his legal team at the federal courthouse in Manhattan, BNN Bloomberg reported.
SBF’s lawyers proposed that allowing him to meet with his legal team would help in reviewing extensive case documents for the trial set to take place in October. They also requested the use of an internet-enabled laptop at the courthouse.
However, prosecutors raised the fact that SBF has not provided all the necessary information about the advice he received for his defense. They have offered to provide documents on hard drives that the co-founder can access at the Metropolitan Detention Center (MDC).
The Metropolitan Detention Center, known for its challenging conditions, has been the subject of complaints from high-profile detainees in the past. The judge found that Bankman-Fried’s use of the internet extended beyond acceptable boundaries, even involving a virtual private network.
Disclosure concerns surround Bankman-Fried’s detention
Bankman-Fried’s legal team contends that his inability to properly review a substantial volume of case documents is due to his confinement in the detention center. Notably, the government provided hundreds of thousands of pages of Slack communications just recently, making it challenging for Bankman-Fried to review them within the current schedule.
His lawyer, Christian Everdell, emphasized that such extensive documentation is critical for a thorough defense review.
The judge’s decision on Bankman-Fried’s request for weekday freedom was still pending at press time. Prosecutors have proposed loading documents onto hard drives that he can access at MDC. However, they stated that it would not be feasible to load all documents onto a laptop.
The case against Bankman-Fried, labeled as US v. Bankman-Fried, involves a total of 13 counts related to the collapse of FTX. These charges include conspiracy to commit wire fraud and violating the anti-bribery provisions of the Foreign Corrupt Practices Act. If convicted of all counts, he could potentially face over 155 years in prison.