Cryptocurrency: Ex-FTX boss in jail after parole revoked

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JUSTICE Pending trial, he was placed under house arrest with his parents in California after his bail was paid

Cryptocurrency  : Former FTX boss in prison after his parole was revoked

Sam Bankman-Fried in New York on August 11, 2023. — Getty Images via AFP

The former boss of the FTX cryptocurrency exchange platform, Sam Bankman-Fried, has been dismissed in jail on Friday by a federal judge in New York who found that he had not respected the rules of his freedom; conditional. The prosecutor's office was at the origin of this appeal for annulment of the release under conditions, accusing Sam Bankman-Fried of witness tampering.

According to the prosecutor, he notably transmitted documents to the New York Timesin an attempt to influence the testimony of Caroline Ellison, a former executive of his company; Alameda investment company which has been charged and who accepted to collaborate with the American authorities. At the conclusion of the hearing, Judge Lewis Kaplan of the Southern District of New York “ordered that the accused either placed in custody by the US Marshalls” federal prisoner.

While awaiting his trial, he had been assigned to residency with his parents in California after posting $250 million bail. Charged notably for fraud and criminal association, “SBF”, his nickname, had been extradited at the end of December 2022 from the Bahamas, where was the headquarters of FTX. He pleaded; not guilty to all the counts brought against him over the months. His trial is due to begin in October at New York.