SBF Continues To Apply For New Guarantee In Bahamas Court

Former FTX CEO Sam Bankman-Fried (SBF) has filed a new bail application with the Bahamas Supreme Court, after a trial judge rejected his previous bail request.

On December 15, the SBF filed a new bail application before the Supreme Court of the Bahamas, a source familiar with the matter said on Thursday, according to Reuters.

As was updated in a previous Coincu News article, the action comes after a magistrate judge on Tuesday dismissed the former crypto mogul’s bail request.

According to the update, Sam’s attorneys have requested a $250,000 bail for him. The reason given was that the former CEO of FTX suffered from “depression” and “insomnia”. However it was denied vid suggested that he would be in danger of absconding.

Sam is currently being held in the Bahamas until at least February next year. The arrest between the SBF and the successive charges brought soon by prosecutors raised suspicions that his partners, particularly Caroline Ellison, the former CEO of Alameda Research, cooperated with investigative agencies.

Yesterday, SBF Top Forgers Ryan Salame told Bahamas regulators that in the days leading up to FTX’s collapse, SBF likely moved client funds to Alameda to cover losses.

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