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Court Considers Seizing Quarter Billion Dollar Bail of Ex-FTX CEO AFter Intimidation Claims

Ex-FTX CEO, Sam "SBF" Bankman-Fried, might lose his $250 million bail over alleged intimidation attempts against a former partner, pending court decisions.

Fri, 04 Aug 2023, 16:44 pm UTC

There's a whirlwind brewing in the legal arena around Sam "SBF" Bankman-Fried, previously at the helm of the now-bankrupt crypto exchange FTX. His extravagant $250 million bail, already an eye-catching figure, is in danger of being scrapped. At the heart of this upheaval are accusations claiming SBF has intimidated a certain Caroline Ellison.

Ellison, not just a former collaborator of SBF but also his ex-flame, became the focus of SBF's alleged intimidation tactics following a leak of her personal online diaries by a New York Times reporter. Reports indicate that SBF inundated the reporter with around 100 phone calls, triggering the current legal quagmire.

The U.S. government, represented by Assistant U.S. Attorney Danielle Sassoon, has pushed for the nullification of SBF's bail during a July 26 hearing at the United States District Court for the Southern District of New York. Judge Lewis Kaplan, overseeing the case, appears to be taking the matter with all due gravity, cautioning SBF to approach the situation with utmost seriousness.

With the stage set for a fierce legal tussle, the government will present its case on July 28, followed by a counterargument from SBF's legal squad on August 3. Kaplan's verdict, in this case, may establish a precedent of sorts in such high-profile cases.

Ever since his indictment in December 2022, SBF's freedom has been conditional, tied to the confines of his parents' house in California and stripped of privileges to use certain communication and internet technologies. The impending arguments on bail may further tighten these restrictions.

As part of their defense strategy, SBF's attorneys suggested incorporating potential witnesses into any forthcoming gag orders, bringing up the name of FTX's present CEO John Ray. Post the bankruptcy of FTX, Ray has been a frequent face in the media, engaging in discussions concerning the defunct exchange.

The legal journey of SBF, who denies all charges, is set to hit a significant milestone with his first criminal trial scheduled for October 2, 2023, with an additional trial expected in March 2024.

TokenPost | [email protected]

TokenPost | [email protected]

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