FTX founder Sam Bankman-Fried bid for pretrial release in the United States, ahead of his trial on fraud charges linked to his cryptocurrency business, has been denied.
Bankman-Fried’s legal team had argued that conditions at the Metropolitan Detention Center in Brooklyn had hindered his ability to prepare a proper defense before the October 3 trial.
However, Judge Lewis Kaplan ruled on Tuesday that any difficulties Bankman-Fried faced in reviewing evidence provided by prosecutors were “of his own making.”
The judge also noted that Bankman-Fried had not requested a trial delay, despite the offer to consider such a request.
Kaplan highlighted that Sam had not specified which materials he was unable to access, emphasizing that no defendant is entitled to review every piece of evidence during the discovery process.
Also Read: China Insurance Chairman Receives Death Sentence Amid Financial Crackdown
He pointed out that Bankman-Fried is represented by a capable legal team.
In August, Bankman-Fried had his bail revoked when Kaplan found that he had likely tampered with witnesses, including his former romantic partner and colleague, Caroline Ellison.
Bankman-Fried has argued that he shared Ellison’s personal writings with a New York Times reporter to protect his reputation, not to pressure Ellison.
A three-judge panel from the Second Circuit Court of Appeals is separately considering an appeal against the revocation of Bankman-Fried’s bail.
Ellison, who led Bankman-Fried’s hedge fund Alameda Research, has pleaded guilty to fraud and is expected to testify against her former partner.
U.S. prosecutors have accused Bankman-Fried of embezzling billions of dollars in FTX customer funds to cover losses at Alameda Research, purchase property, and make political contributions.
Email your news TIPS to Editor@Kahawatungu.com — this is our only official communication channel
