FTX founder Sam Bankman-Fried jailed in New York

(11 Aug 2023)
FOR CLEAN VERSION SEE STORY NUMBER: 4448708

ASSOCIATED PRESS
New York - 11 August 2023
1. Sam Bankman-Fried enters courthouse
HEADLINE: FTX founder Sam Bankman-Fried jailed in New York
ANNOTATION: Cryptocurrency mogul Sam Bankman-Fried has been sent to jail to await trial.
ANNOTATION: The judge overseeing a bail hearing became convinced that he had repeatedly tried to influence witnesses against him.
2. Sam Bankman-Fried's parents exit courthouse
ANNOTATION: The 31-year-old has been under house arrest at his parents' home in California, since his December extradition from the Bahamas.
STORYLINE:

FTX founder Sam Bankman-Fried was sent to jail Friday to await trial after a bail hearing for the fallen cryptocurrency wiz left a judge convinced that he had repeatedly tried to influence witnesses against him.

U.S. District Judge Lewis A. Kaplan ordered Bankman-Fried's bail revoked after prosecutors said he'd tried to harass a key witness in his fraud case last month when he showed a journalist her private writings and in January when he reached out to the general counsel for FTX with an encrypted communication.

His lawyers insisted he shouldn’t be jailed for trying to protect his reputation against a barrage of unfavorable news stories.

Kaplan said he had concluded there was probable cause to believe Bankman-Fried had tried to “tamper with witnesses at least twice” since his December arrest.

A defense lawyer said an appeal of the incarceration order would be filed and asked for an immediate stay of the order.

The 31-year-old has been under house arrest at his parents' home in Palo Alto, California, since his December extradition from the Bahamas on charges that he defrauded investors in his businesses and illegally diverted millions of dollars' worth of cryptocurrency from customers using his FTX exchange.

Bankman-Fried's $250 million bail package severely restricts his internet and phone usage.

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[jaylm]

Remember when this guy laughed and joked about stealing.... i do

[ronalddesiderio]

Unbelievable! One of the Biggest thieves in US history and he was under house arrest at mommies this whole time in Cali! What a Sham!!!

[Mrskywalker]

with nice apartment, good food and prostitution’s paid by his mam with stolen money, she is the brain

[susieatbeach]

If he goes to jail, so should😊 Trump.

[rubendesta]

ruthless be abtue of powerr, don't behave like you suppose to or what it should be, really sloppy for a criminal firsty