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News

US Prosecutors Want Judge To Put Sam Bankman-Fried In Jail Soon: Report

July 27, 2023 - Around 2 mins mins to read

Key Points:

  • US federal prosecutors have asked the judge to order the early arrest of Sam Bankman-Fried (SBF).
  • Prosecutor Danielle Sassoon said, “no set of release conditions can ensure the safety of the community,”
  • The DOJ had previously accused the SBF of disclosing the personal diaries of former colleague Caroline Ellison, undermining the credibility of witnesses.
According to Reuters, on Wednesday, federal prosecutors in New York asked a judge to order Sam Bankman-Fried to be jailed ahead of a trial scheduled for October over the FTX crypto exchange crash.
US Prosecutors Want Judge To Put Sam Bankman-Fried In Jail Soon: Report

At Wednesday’s hearing in Manhattan federal court, US Attorney Danielle Sassoon said, “No release condition can guarantee the safety of the community.”

A week ago, the US Department of Justice accused the Sam Bankman-Fried of leaking the private diary of former Alameda Research CEO Caroline Ellison to the media. The accusations came after the NYT published an article featuring Ellison’s thoughts, which led the DOJ to seek to ban all out-of-court statements by witnesses and other parties to the case.

“The defendant’s actions—sharing personal writings of Caroline Ellison’s with a New York Times reporter—implicate the core concern of Rule 23.1 that disseminating material related to the “testimony or credibility of prospective witnesses” presumptively involves a significant likelihood or prejudice to a fair trial and the due administration of justice,”

The US Attorneys wrote.

Sassoon told the court that the SBF, currently under house arrest, tried to “threaten” Ellison and “made 100 calls to New York Times reporters, some of which lasted more than 20 minutes.”

US Prosecutors Want Judge To Put Sam Bankman-Fried In Jail Soon: Report

According to a letter sent over the weekend to the Southern District Court of New York, SBF’s attorneys agreed he would not speak publicly about the case. Still, they said the request should apply to a The team includes FTX, Alameda Research, and current FTX CEO John Ray, all parties and witnesses.

To this day, Sam Bankman-Fried has denied a wide range of charges, including fraud, alleging that he and other FTX executives used billions of client assets to conduct transactions of their own failed investments. If SBF is found guilty of several counts, including fraud, he faces more than 100 years in prison.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

News

US Prosecutors Want Judge To Put Sam Bankman-Fried In Jail Soon: Report

Key Points:

  • US federal prosecutors have asked the judge to order the early arrest of Sam Bankman-Fried (SBF).
  • Prosecutor Danielle Sassoon said, “no set of release conditions can ensure the safety of the community,”
  • The DOJ had previously accused the SBF of disclosing the personal diaries of former colleague Caroline Ellison, undermining the credibility of witnesses.
According to Reuters, on Wednesday, federal prosecutors in New York asked a judge to order Sam Bankman-Fried to be jailed ahead of a trial scheduled for October over the FTX crypto exchange crash.
US Prosecutors Want Judge To Put Sam Bankman-Fried In Jail Soon: Report

At Wednesday’s hearing in Manhattan federal court, US Attorney Danielle Sassoon said, “No release condition can guarantee the safety of the community.”

A week ago, the US Department of Justice accused the Sam Bankman-Fried of leaking the private diary of former Alameda Research CEO Caroline Ellison to the media. The accusations came after the NYT published an article featuring Ellison’s thoughts, which led the DOJ to seek to ban all out-of-court statements by witnesses and other parties to the case.

“The defendant’s actions—sharing personal writings of Caroline Ellison’s with a New York Times reporter—implicate the core concern of Rule 23.1 that disseminating material related to the “testimony or credibility of prospective witnesses” presumptively involves a significant likelihood or prejudice to a fair trial and the due administration of justice,”

The US Attorneys wrote.

Sassoon told the court that the SBF, currently under house arrest, tried to “threaten” Ellison and “made 100 calls to New York Times reporters, some of which lasted more than 20 minutes.”

US Prosecutors Want Judge To Put Sam Bankman-Fried In Jail Soon: Report

According to a letter sent over the weekend to the Southern District Court of New York, SBF’s attorneys agreed he would not speak publicly about the case. Still, they said the request should apply to a The team includes FTX, Alameda Research, and current FTX CEO John Ray, all parties and witnesses.

To this day, Sam Bankman-Fried has denied a wide range of charges, including fraud, alleging that he and other FTX executives used billions of client assets to conduct transactions of their own failed investments. If SBF is found guilty of several counts, including fraud, he faces more than 100 years in prison.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.