FTX Founder Bankman-Fried Opposes Tighter Bail, Accusing Prosecutors Of 'bullying' Him
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FTX Founder Bankman-Fried Opposes Tighter Bail, Accusing Prosecutors Of ‘bullying’ Him

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(CTN NEWS) – Sam Bankman-attorneys Fried’s on Saturday pleaded with a U.S. judge not to restrict the indicted FTX cryptocurrency executive’s ability to contact former coworkers as a condition of his release on bail.

Claiming that prosecutors “sandbagged” the procedure to cast their client in the most “terrible light possible.”

The attorneys were reacting to a Friday night request from federal prosecutors that Bankman-Fried not be permitted to speak with the majority of employees of FTX.

Or his Alameda Research hedge fund without attorneys present or use Signal or Slack, encrypted messaging apps that might delete messages automatically.

FTX Founder Bankman Fried Opposes Tighter Bail Accusing Prosecutors Of bullying Him

Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, leaves on the day of a hearing at Manhattan federal court in New York City, U.S. January 3, 2023. REUTERS/Eduardo Munoz/File Photo

Since pleading not guilty to accusations of fraud in the theft of billions of dollars from the now-bankrupt FTX, Bankman-Fried, 30, has been free on a $250 million bail.

To avoid witness tampering and other forms of obstruction of justice, the prosecution claimed that their request was in response to Bankman-recent Fried’s attempt to get in touch with the general counsel of an FTX affiliate, a prospective witness against him.

However, Bankman-attorneys Fried’s said in a letter to U.S. District Judge Lewis Kaplan in Manhattan that prosecutors unexpectedly imposed the “overbroad” bail restrictions without disclosing that the two parties had been debating bond over the previous week.

Bankman-attorneys Fried’s claimed that the government “sandbagged the process” by filing this letter at 6:00 p.m. on Friday night rather than waiting for a response from the defense.

FTX Founder Bankman Fried Oppose

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According to the government, the best approach to achieve the desired result is through a one-sided presentation that is slanted to portray our client in the worst possible light.

Additionally, the attorneys for Bankman-Fried said that their client’s attempts to get in touch with the general counsel and John Ray, who was appointed as FTX’s CEO during the bankruptcy, were intended to “assist” and not to meddle.

A Manhattan-based spokeswoman for U.S. Attorney Damian Williams declined to comment.

The attorneys for Bankman-Fried suggested that their client be permitted to speak with some coworkers, including his therapist, but not with Caroline Ellison and Zixiao “Gary” Wang, who have pled guilty and are working with investigators

FTX Founder Bankman Fried Oppose 1

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They claimed that since Bankman-Fried is not using the auto-delete feature, a Signal ban is unnecessary and that any worries he had were “unfounded.”

There was “no evidence,” according to the lawyers that Bankman-Fried was accountable for prior suspected illicit transactions.

They also wanted a bail restriction prohibiting him from accessing FTX, Alameda, or cryptocurrency holdings removed.

Kaplan gave prosecutors till Monday to respond to Bankman-concerns Fried’s in order on Saturday.

The judge further stated, “The court expects all counsel to refrain from disparaging characterizations of the conduct and purposes of their opponents.”

 

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