Former crypto billionaire Sam Bankman-Fried will await his October trial in jail rather than at his parent’s multimillion-dollar home in Palo Alto for allegedly tampering with witnesses, a federal judge ruled Friday, as Bankman-Fried’s legal saga grows messier.
FTX founder Sam Bankman-Fried arrives in Manhattan for a Friday court apeparance.
Bankman-Fried violated his bail conditions by feeding information to the New York Times about his ex-girlfriend and former top underling Caroline Ellison, determined federal judge Lewis A. Kaplan, according to reporters present at the courtroom.
Ellison, who was CEO of Bankman-Fried’s hedge fund Alameda Research, is expected to testify against Bankman-Fried in his trial for overseeing an extensive web of fraud and corruption at Alameda and his FTX crypto exchange.
Authorities escorted Bankman-Fried out of the courtroom Friday in handcuffs after Kaplan denied his legal team’s appeal, per Inner City Press.
This is a breaking news story and will be updated…