With four weeks before the former FTX founder’s criminal trial will begin in New York, his bid for return to bail was rejected.
A US Court of Appeals has thrown out Sam Bankman-Fried request to be immediately released ahead of his criminal trial. With four weeks before the former FTX founder’s criminal trial will begin in New York, his bid for return to bail was rejected.
Sam Bankman-Fried loses release bid
Sam Bankman-Fried has requested that he be released to prepare for his upcoming criminal trial. His trial is to start on October 3.
A 2nd United States Circuit Court of Appeals in Manhattan denied SBF’s request but noted that it would ask the next available three-judge panel to consider it.
Clerk of the Court Catherine O’Hogan Wolfe noted that the request for immediate release from the Brooklyn jail was rejected.
“The motion for pretrial release is referred to the next available three-judge panel,” said Wolfe. “To the extent Appellant requests his immediate release pending decision by the three-judge panel, that request is denied.”
Read more: Sam Bankman-Fried faces new DOJ indictment for using $100M in campaign funding
FTX Founder appealed Kaplan’s decision
The former FTX’s CEO had appealed Judge Kaplan decision to revoke his bail some weeks ago. Sam Bankman-Fried had pleaded not guilty to fraud and conspiracy charges, and the allegations of witness tampering was not to intimidate Caroline Ellison (his former colleague and romantic interest) but to defend his reputation.
Bankman-Fried’s attorneys stated in court documents on Tuesday that the plan to allow him several hours daily to analyze evidence on a laptop at the Metropolitan Detention Center in Brooklyn has been insufficient. They claimed that he lost more time over the weekend after having to spend more than four hours on Friday in his cell for a prisoner count.
In response to these worries, the US Attorney’s office in Manhattan disclosed that the detention facility had given permission for Bankman-Fried to buy a second laptop. Although the defense has not formally requested a trial postponement, Judge Kaplan has indicated that he is willing to do so.
“If the defendant in good conscience feels that he needs a postponement … they can ask,” Kaplan said.
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