SBF Files For New Bail Application

December 16, 2022 Story- Divya Sinha

As per the Reuters report, a source with familiar matter said that Sam Bankman-Fried, former FTX CEO has filed a bail request before the Supreme Court of the Bahamas.

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This comes after, SBF’s bail was denied by the Bahamian judge on Tuesday.

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The US government has charged him with eight criminal violations from wire fraud to money laundering to conspiracy to commit fraud.

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The request for bail was made on Thursday, said a source who requested anonymity.

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Also, Bahamas broadcaster Eyewitness News on Thursday reported that the Supreme Court would hear the bail application on January 17, without citing sources.

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FTX mentioned in its bankruptcy filing that the exchange faced a severe liquidity crisis that necessitated the filing of these cases on an emergency basis.

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US prosecutors say SBF was involved in a scheme to defraud FTX customers.

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