SBF jailed for tampering with witnesses and leaking ex’s love letters after judge revokes bail.
Disgraced FTX Founder Jailed for Witness Tampering
In a shocking turn of events, Sam Bankman-Fried, the founder of FTX, has been sent to jail after his bail was revoked. The judge accused him of tampering with witnesses on multiple occasions, jeopardizing his upcoming trial. Bankman-Fried’s actions included leaking private writings and love letters from his ex-girlfriend to a reporter, a move that could have serious consequences for his case.
Appeal Denied, Bankman-Fried to Remain in Jail
Despite his defense attorney’s efforts to appeal the decision, the request for an immediate stay was rejected by Judge Lewis Kaplan. Bankman-Fried’s defense team argued that the prosecutors’ case was based on speculation and lacked substantial evidence. However, their pleas fell on deaf ears, and Bankman-Fried will now be held at the Manhattan Detention Complex until his trial begins on October 2.
Ex-Girlfriend’s Role in the Trial
Caroline Ellison, Bankman-Fried’s former girlfriend and a key figure in the crypto empire, is expected to be a witness in his trial. Ellison, who pleaded guilty to fraud, ran Alameda Research, a crypto hedge fund started by Bankman-Fried. However, her involvement in the fund was controversial, as Bankman-Fried had loaned half of FTX customer’s funds to the hedge fund, a violation of the company’s terms of service. The New York Times recently published some of Ellison’s private writings, shedding light on her frustrations with her job and her tumultuous relationship with Bankman-Fried.
Legal Troubles and Political Controversy
Bankman-Fried has been facing a slew of charges, including wire fraud, securities fraud, money laundering, and bank fraud. The indictment against him also revealed that he made political contributions in the names of others to evade federal election law. His donations, totaling nearly $40 million, primarily supported Democratic nominees and political action committees. Additionally, Bankman-Fried was a major donor to the 2020 Biden presidential campaign and had multiple meetings with senior advisers at the White House before his companies filed for bankruptcy.
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In a separate case, Bankman-Fried has also been charged with bribing Chinese Communist Party officials with millions of dollars. The Justice Department alleges that he authorized and directed a bribe of at least $40 million to one or more Chinese government officials.
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