DOJ Notes Sam Bankman-Fried Needs Jail Time

Recently, the Department of Justice (DOJ) expressed dissatisfaction with the current bail terms of FTX founder Sam Bankman-Fried. The DOJ accuses the crypto entrepreneur of tampering with witnesses and obstructing investigations.

In response, they’ve filed a court request asking Judge Lewis Kaplan to revoke Bankman-Fried’s bail and detain him.

The DOJ fears that he may not comply with his pretrial conditions. They’ve asked the court to consider their motion to revoke his bail and order his detention.

According to the notes, the defendant has been attempting to tamper with witnesses and interfere with the government’s efforts to ensure a fair trial and the administration of justice.

Additionally, the defendant has repeatedly violated his bail conditions in pursuit of these actions.

As a result, the Department of Justice believes that no pretrial release conditions can guarantee the safety of the community or ensure that the defendant will follow the conditions of release.

The DOJ has also accused Bankman-Fried of deliberately leaking diary entries belonging to Caroline Ellison, the former CEO of FTX’s trading arm Alameda Research. The agency believes that Bankman-Fried’s actions were an attempt to prevent Ellison from testifying.

The defendant has recently leaked private writings of Ellison which is another example of trying to intimidate and corruptly influence her upcoming trial testimony.

This is also an attempt to prevent the testimony of other potential trial witnesses by creating fear that their personal information may be reported in the press.

Back in April, we were revealing the fact that FTX founder SBF pleaded not guilty to the new charges.

The accounts, which contained more than $1 billion in crypto assets, were frozen in early 2021 as China investigated an Alameda counterparty.

The online publication the Daily Hodl notes the fact that Reuters reports that Bankman-Fried pleaded not guilty to the bribery charge at a hearing before District Judge Lewis Kaplan in Manhattan federal court on Thursday.