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Sam Bankman-Fried Taken Into Custody, Bail to Be Revoked
Posted
August 11, 2023
Views
3,944
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87
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Engagement
2.41%
August 11, 2023
3,944
87
8
2.41%
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0:58Now PlayingFTX co-founder Sam Bankman-Fried was taken into custody after a federal judge revoked his bail less than two months before his scheduled fraud trial.
US District Judge Lewis A. Kaplan made the order at a hearing in Manhattan Friday afternoon. Bankman-Fried took off his jacket and tie, and was immediately placed in handcuffs as marshals escorted him out of the courtroom. His mother, who was also present, cried in the public gallery.
Prosecutors had asked the judge to revoke Bankman-Fried’s $250 million bail package after accusing him of leaking documents in an attempt to discredit Caroline Ellison, the former chief executive officer of Alameda Research, who will likely be a key government witness.
A gag order is not “a workable solution longer term particularly with someone who has shown a willingness and a desire to risk crossing the line in an effort to get right up to it no matter where the line is,” Kaplan said.
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