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News

SBF’s Law Team Filed An Appeal After He Was Arrested Less Than 1 Hour: Report

August 12, 2023 - Around 2 mins mins to read

Key Points:

  • The legal team of former FTX CEO Sam Bankman-Fried (SBF) has appealed against their decision to arrest their client before the trial begins.
  • The action came less than an hour after SBF was arrested for a fee of more than $500.
  • Earlier, the US Judge decided to revoke the bail of the former FTX director for attempting to tamper with witnesses and evidence related to his upcoming trial.
SBF's Law Team Filed An Appeal After He Was Arrested Less Than 1 Hour: Report
Inner City Press reports that less than an hour after FTX co-founder and CEO Sam Bankman-Fried (SBF) was taken into custody, his legal team filed an appeal and paid a $505 filing fee.

According to previous news, US federal judge Lewis Kaplan decided to revoke SBF’s bail at a hearing in New York’s Southern District Court, saying he tried to interfere with individuals’ evidence at least twice.

In the petition asking for Bankman-Fried’s detention, prosecutors said he had sent over 100 emails over the past few months and made over 1,000 phone calls with the media. Prosecutors accused him of sharing secret documents tied to Caroline Ellison, a former associate of his in the fall of FTX, to the New York Times as part of a communications strategy.

Judge Kaplan emphasized the gravity of the situation, stating that a gag order alone would not suffice given Bankman-Fried’s repeated attempts to influence the proceedings.

Fox Business reporter Eleanor Terrett later tweeted that Judge Lewis Kaplan dismissed the defense’s request for deferred detention pending the appeal and that the SBF is going to jail today.

Previously, the owner of FTX lived at his parents’ home in Palo Alto, California, while awaiting trial on October 2 this year, thanks to spending a considerable amount of bail of $250 million.

Coincu will continue to update the situation related to Sam Bankman-Fried, you can find out more information through this article.

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

SBF’s Law Team Filed An Appeal After He Was Arrested Less Than 1 Hour: Report

Key Points:

  • The legal team of former FTX CEO Sam Bankman-Fried (SBF) has appealed against their decision to arrest their client before the trial begins.
  • The action came less than an hour after SBF was arrested for a fee of more than $500.
  • Earlier, the US Judge decided to revoke the bail of the former FTX director for attempting to tamper with witnesses and evidence related to his upcoming trial.
SBF's Law Team Filed An Appeal After He Was Arrested Less Than 1 Hour: Report
Inner City Press reports that less than an hour after FTX co-founder and CEO Sam Bankman-Fried (SBF) was taken into custody, his legal team filed an appeal and paid a $505 filing fee.

According to previous news, US federal judge Lewis Kaplan decided to revoke SBF’s bail at a hearing in New York’s Southern District Court, saying he tried to interfere with individuals’ evidence at least twice.

In the petition asking for Bankman-Fried’s detention, prosecutors said he had sent over 100 emails over the past few months and made over 1,000 phone calls with the media. Prosecutors accused him of sharing secret documents tied to Caroline Ellison, a former associate of his in the fall of FTX, to the New York Times as part of a communications strategy.

Judge Kaplan emphasized the gravity of the situation, stating that a gag order alone would not suffice given Bankman-Fried’s repeated attempts to influence the proceedings.

Fox Business reporter Eleanor Terrett later tweeted that Judge Lewis Kaplan dismissed the defense’s request for deferred detention pending the appeal and that the SBF is going to jail today.

Previously, the owner of FTX lived at his parents’ home in Palo Alto, California, while awaiting trial on October 2 this year, thanks to spending a considerable amount of bail of $250 million.

Coincu will continue to update the situation related to Sam Bankman-Fried, you can find out more information through this article.

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.