The lawyer of the founder of the FTX exchange Sam Bankman-Fried demanded the court to release his client on bail of $250,000 due to his health condition. However, the court rejected this request.
Attorney Jerome Roberts argues that Sam Bankman-Fried should not be in custody, otherwise he will not be able to eat a vegetarian diet, as well as take daily allergy medication and use patches to treat depression.
Bankman-Fried’s defense suggested that the court release him on $250,000 bail. To allay fears about the possible flight of the FTX founder, the defendant could wear a special electronic ankle bracelet, the lawyer suggested. In addition, during the arrest of the former crypto magnate, law enforcement agencies confiscated his passport.
However, Judge Joyann Ferguson-Pratt denied the lawyer’s motion to release Bankman-Fried on bail. She explained that the absence of documents from the defendant does not mean that he will not try to escape. The judge set an extradition hearing for February.
On Tuesday, Dec. 13, the Manhattan Federal Attorney’s Office charged the former FTX executive with eight felony counts, including wire fraud and money laundering conspiracy.
U.S. Attorney Damian Williams said Bankman-Freed’s scams contributed to the collapse of FTX, causing the exchange’s clients to withdraw their assets en masse due to doubts about the financial stability of the platform.
Source: Bits
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