Connect with us
Active Currencies 14429
Market Cap $2,640,256,920,327.60
Bitcoin Share 50.21%
24h Market Cap Change $-3.32

Judge considers sending Sam Bankman-Fried to jail, here’s why

2min Read
Judge considers sending Sam Bankman-Fried to jail, here's why

Share this article

  • The federal judge overseeing SBF’s case is reportedly considering sending the former FTX CEO to jail.
  • Prosecutors have argued that SBF violated the terms of his bail by attempting to influence witness testimony.

Sam Bankman-Fried, the man behind the bankrupt crypto exchange FTX, is facing increasing scrutiny from a federal judge over his use of electronic devices while out on bail.

Judge Lewis Kaplan of the District Court for the Southern District of New York is reportedly considering revoking the disgraced CEO’s bail and sending him to jail over his undue internet usage. 

Federal judge mulls sending SBF to jail 

According to a recent report by CNN, Federal Judge Lewis Kaplan raised the possibility of incarceration as the only way to ensure Sam Bankman-Fried does not use electronic devices to outsmart the government.

Bankman-Fried got in trouble last month after he contacted several ex-employees of FTX using encrypted messaging applications, including Signal. The judge suggested that there may be “probable cause” to believe that SBF committed or attempted to commit a federal felony.

During the court proceedings, Judge Kaplan noted that there may be several electronic devices in Bankman-Fried’s family home that the government is not tracking.

He questioned why he should allow Bankman-Fried to be released in such an environment, given that he has already violated his bail conditions in the past.

Prosecutors have asked Judge Kaplan to limit Bankman-Fried’s use of electronic devices and the internet, including banning him from messaging applications and requiring the installation of a device monitoring program on his cellphone and computer.

They argued that Bankman-Fried’s behavior shows that the existing conditions leave too much room for circumvention of restrictions aimed at preventing inappropriate conduct.

Sam Bankman-Fried’s lawyers oppose jail time 

Mark Cohen, the lawyer representing Sam Bankman-Fried, told the judge that he agreed with the need for additional conditions but asked for leniency.

Furthermore, the lawyer argued that the recommendations made by the prosecutors were “draconian.” Cohen said that SBF understood what was at stake and was literally on trial for his life.

He added that they needed the former FTX CEO to work on his defense and that jail time would make it harder to go through the company’s extensive financial records. 

Share

Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.