In a recent court hearing on July 26, it was revealed that the former FTX CEO, Sam Bankman-Fried, also known as “SBF,” could have his $250 million bail revoked due to allegations of intimidation against his former partner and colleague, Caroline Ellison.Â
Assistant U.S. Attorney Danielle Sassoon requested the bail revocation, claiming that SBF had used his freedom to intimidate Ellison by making around 100 calls to a reporter who revealed Ellison’s private online journals in a New York Times story.
The case is being overseen by Judge Lewis Kaplan in the United States District Court for the Southern District of New York. The judge will hear arguments from the U.S. government on July 28 and SBF’s legal team on Aug. 3 before making a decision.
Judge Kaplan sternly warned Bankman-Fried to take the matter seriously. The judge had already signed off on a temporary order drafted by prosecutors to prevent SBF from making extrajudicial statements.
Since his arrest and indictment in December 2022, Sam Bankman-Fried has been to court multiple times to address issues related to his bail conditions. His current bail conditions require him to stay at his parents’ home in California and prohibit him from using messaging apps, virtual private networks, and certain technology.
The Department of Justice filed a complaint on July 20, alleging that SBF tried to interfere with a fair trial by publicly discrediting Caroline Ellison. In response, SBF’s legal team argued that potential witnesses, including the current FTX CEO John Ray, should also be included in any gag order.
Also Read: FTX Files $1B Lawsuit Against SBF & Ex-Executives
Sam Bankman-Fried’s first criminal trial is scheduled to begin on October 2, but he may also face a separate trial starting in March 2024. Throughout the legal proceedings, SBF has maintained his plea of not guilty to all charges against him.
