Sam Bankman-Fried's bail was revoked ahead of his October fraud trial, a US judge said, after prosecutors accused the indicted founder of bankrupt cryptocurrency exchange FTX of tampering with witnesses
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.
The decision could complicate Bankman-Fried's efforts to prepare for trial, where the 31-year-old former billionaire faces charges of having stolen billions of dollars in FTX customer funds to plug losses at his Alameda Research hedge fund.Federal prosecutors in Manhattan first made their surprise request to jail Bankman-Fried last month, saying he "
Bankman-Fried has been largely confined to his parents' Palo Alto, California, home on $250 million bond since his December 2022 arrest. At a July 26 hearing, Kaplan had restricted Bankman-Fried from speaking publicly about his case, and asked both sides to address whether jail was necessary.
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