Just-In: SBF To Face Court Over Bail Condition Violation

Crypto News: Sam Bankman-Fried (SBF), founder of now bankrupt FTX digital asset exchange is set to revisit the court ahead of his scheduled 2nd October Trial. The judge U.S. District Judge Lewis Kaplan will be deciding whether SBF can continue on his ongoing bail conditions in the fraud case.

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SBF Broke Bail Conditions?

As per reports, prosecutors raised a concern of witness tampering as SBF handed over personal writings by Caroline Ellison to a New York Times reporter. Caroline the former chief executive of crypto hedge fund, Alameda Research has pleaded guilty. However, she is expected to testify against SBF in the fraud case.

The prosecutors suggested that Sam Bankman-Fried’s motive for sharing crucial documents was an attempt to tamper with the witness. This is being done to cast Caroline in a bad light and send a message through press media that she committed these crimes alone.

Judge Lewis Kaplan scheduled the hearing in the Manhattan federal court at 2 p.m. EDT. The hearing will consider the continuation of the current bail conditions. It should be noted that this is not the first time that the judge has interrogated SBF’s bail terms. The FTX founder earlier attempted to contact current FTX Chief Executive Officer John Ray and an FTX lawyer. Read More Crypto News Here…

FTX Founder To Appear In Court Ahead Of Trail

District Judge Lewis Kaplan was directed by the U.S. Attorney’s office in Manhattan to restrict SBF from giving out public statements linked to the case. As per some proposed conditions, SBF was required to operate a phone with no internet connection and basic laptop restricted functions.

However, SBF’s parents agreed to limit his access to their devices while under house arrest. They also signed the affidavits to not bring prohibited electronic devices into the house.