Judge allows FTX founder Sam Bankman-Fried to be released on $250M bond

Only 250 Million?

So now he is out on the street, where some NPC could get access to to make sure he can’t testify.

For his safety (and testimony/trial) he should be kept safe in custody… or not.  He might Epstein himself (forced self-deletion).

U.S. judge revokes Sam Bankman-Fried’s bail, saying FTX founder tampered with witnesses

FTX founder Sam Bankman-Fried left a federal courtroom in handcuffs Friday after a judge revoked his bail after concluding that the fallen cryptocurrency wiz had repeatedly tried to influence witnesses against him.

About time.

Bankman-Fried looked down at his hands as judge Lewis A. Kaplan explained at length why he believed the California man had repeatedly pushed the boundaries of his $250 million US bail package to a point that Kaplan could no longer ensure the protection of the community, including prosecutors’ witnesses, unless the 31-year-old was behind bars.

You mean the rules applies to me?  How unfair!

The judge noted that the strict rules did not stop him from reaching out in January to a top FTX lawyer, saying he “would really love to reconnect and see if there’s a way for us to have a constructive relationship, use each other as resources when possible, or at least vet things with each other.”

At a February hearing, Kaplan said the communication “suggests to me that maybe he has committed or attempted to commit a federal felony while on release.”

But that did not stop him from doing more.

Two weeks ago, prosecutors surprised Bankman-Fried’s lawyers by demanding his incarceration, saying he violated those rules by giving the New York Times the private writings of Caroline Ellison, his former girlfriend and the ex-CEO of Alameda Research, a cryptocurrency trading hedge fund that was one of his businesses.

And what was in those?

The judge said Friday that the excerpts of Ellison’s communications that Bankman-Fried had shared with a reporter were the kinds of things that somebody who’d been in a relationship with somebody “would be very unlikely to share with anybody, lest The New York Times, except to hurt, discredit, and frighten the subject of the material.”

IN other words, conditions of his bail have been breached.  Bail revoked!  Jail it is!

Judge to Sam Bankman-Fried: You’re Staying in Jail

On Thursday, a judge rejected his latest effort to get out.

Bankman-Fried’s lawyers had urged Judge Lewis Kaplan to grant their client a “temporary residence” for the duration of his trial, which begins next week, saying it was necessary for him to mount an effective defense.

BS!

Prosecutors challenged Bankman-Fried’s request, noting that the “inconveniences” cited in his motion were “common to all incarcerated defendants.” They also argued that he had failed to be specific about how his ability to prepare for trial was impeded.

And the judge agreed.

…the crypto whiz kid should have thought about the effects of incarceration before he allegedly tried to intimidate or influence witnesses.

“But like anyone else,” Nardini said, “if it is true that he has intimidated witnesses, at a certain point, he makes his own bed and sleeps in it.”

You will stay in jail, in the bed you made.

Sam Bankman-Fried, FTX founder, sentenced to 25 years in prison in crypto fraud case

Former crypto mogul Sam Bankman-Fried was sentenced Thursday to 25 years in prison for his role in the 2022 collapse of FTX, which once was one of the world’s most popular platforms for trading digital currency.

What did he do again?

Prosecutors said Bankman-Fried had cost customers, investors and lenders over $10 billion US by misappropriating billions of dollars to fuel his quest for influence and dominance in the new industry.

He decide to use it as his own personal piggybank.

Bankman-Fried, 32, was convicted on seven charges in November related to fraud and conspiracy. A jury found that Bankman-Fried illegally used money from FTX depositors to cover his expenses, which included purchasing luxury properties in the Caribbean, private planes, significant U.S. political campaign contributions and alleged bribes to Chinese officials.

There was no way any “fees” would have covered such a lifestyle.

Given a chance to speak, Bankman-Fried stood and apologized in a rambling statement, saying: “A lot of people feel really let down. And they were very let down. And I’m sorry about that. I’m sorry about what happened at every stage.”

He added that, “My useful life is probably over. It’s been over for a while now, from before my arrest.”

You are only sorry you were caught, and now will be spending the next 25 years in prison, where your outrageous spending will give you nothing.

And think of all those people whose money and savings and investments are gone.  Their future is even less certain.  At least you will be getting room and board and all the luxuries of the prison system for the next 25 years.