Sam Bankman-Fried finally finds himself behind bars

The wheels of justice: Shamed crytopreneur Sam Bankman-Fried is finally seeing the within of a jail cell. While the founding father of the collapsed FTX cryptocurrency change has not been discovered responsible of any fees introduced towards him, he has been taking part in quick and unfastened with the judicial system’s guidelines and expectations. A choose finally determined sufficient was sufficient and revoked his bail.

Since shortly after SBF’s arrest final December, the previous FTX CEO has been beneath home arrest in his dad and mom’ house in Palo Alto, California. The situation was a part of his bail settlement and allowed him the liberty to make use of his laptop and different digital gadgets responsibly. However, SBF started bending the foundations of his court-mandated home arrest from practically the outset by misusing his digital gadgets.

In March, authorities caught him utilizing a VPN. They suspected he was attempting to cover communications with former associates and witnesses and get them to lean their tales in his favor. His attorneys claimed he solely seen “football games” by way of the VPN. Lewis Kaplan, the federal choose presiding over the case, did not purchase the protection’s excuse and banned SBF from utilizing a VPN.

Around the identical time, prosecutors alleged he was additionally utilizing the encrypted messaging app Signal. They prompt he used it for a similar causes they suspected he was utilizing a VPN – contacting and tampering with witnesses. Judge Kaplan thought of revoking his bail privileges however finally agreed to permit restricted use of “monitored” offline digital gadgets.

Sam Bankman-Fried will put together for his fraud trial from a Brooklyn jail the place inmates starting from convicted intercourse trafficker Ghislaine Maxwell to Honduras’ former president have complained of subpar circumstances https://t.co/eukOgJSriP pic.twitter.com/34jMX1dwAd

– Reuters (@Reuters) August 14, 2023

It all got here to a head final month when US prosecutors petitioned the courtroom to situation a gag order after the New York Times printed a narrative containing personal journal entries of SBF’s ex-girlfriend and former Alameda Research CEO Caroline Ellison. Prosecutors as soon as once more claimed Bankman-Fried was attempting to discredit her testimony and tamper with the jury pool.

Ellison pleaded responsible to her participation in defrauding FTX buyers in change for a lighter sentence and changing into the state’s witness. Prosecutors imagine he deliberately leaked Ellison’s journal to intimidate and discredit her. So they requested the courtroom for an injunction, citing fears that Bankman-Fried would proceed making an attempt to deprave witnesses and jurors.

In a transfer that seemingly stated, “I’ll do you one better,” Judge Kaplan revoked SBF’s bail settlement and remanded him to jail. Kaplan cited in his resolution that Mr. Bankman-Fried had tried to “tamper with witnesses at least twice” and, subsequently, couldn’t be trusted to stick to his bail settlement whereas beneath home arrest.

Reuters notes that after Kaplan learn his resolution, US Marshals eliminated SBF’s shoelaces, jacket, and tie, emptied his pockets, then eliminated him from the courtroom. They then instantly escorted him to a jail cell in Brooklyn the place he’ll stay till trial.