Judge Rejects Sam Bankman-Fried’s Pre-Trial Release Plea

The plea for pre-trial release by Sam Bankman-Fried, the former CEO of FTX, has been denied by Judge Lewis Kaplan. 

This decision means that Bankman-Fried will remain in detention as his trial date approaches.

Bankman-Fried’s defense team had argued that their client’s trial preparation was hindered due to poor internet access in prison. 

They claimed that the inadequate access prevented him from reviewing evidence and working on his defense. 

However, Judge Kaplan found these arguments insufficient to grant pre-trial release.

The judge pointed out that Bankman-Fried had extensive access to electronically stored discovery materials for 7 ½ months before his bail was revoked in August. 

During this period, he had unrestricted internet access at his parents’ residence in Palo Alto.

Kaplan emphasized that Bankman-Fried had yet to provide specific details about which evidence he could not access personally. 

The judge also noted that Bankman-Fried had the opportunity to request a trial delay, but no such request was made.

Furthermore, Judge Kaplan stated that Bankman-Fried was represented by a substantial team of experienced lawyers, indicating that he had adequate legal support. 

The judge did not find the argument that Bankman-Fried needed more daily time to work on his defense convincing.

Both the prosecution and defense had requested a trial date in September or October, which the judge granted. 

Although Bankman-Fried’s defense had the opportunity to seek a postponement of the trial date, they did not make such a request.

Judge Kaplan concluded that any time pressure Bankman-Fried faced due to the trial’s imminence and his claimed limitations in accessing electronically stored materials. At the same time, being imprisoned was largely a result of his own choices and actions.

Future Possibility for Release

While denying the pre-trial release, Judge Kaplan left open the possibility for a later, more detailed application for release. 

Bankman-Fried’s detention order is currently under appeal, with a three-judge panel expected to hear arguments on September 19.

Sam Bankman-Fried is facing multiple charges related to the collapse of FTX, including wire fraud, securities and commodities fraud, conspiracy to commit money laundering, and illicit political finance activities. 

He has pleaded not guilty to all charges.

His arrest and subsequent detention came after allegations of witness tampering, including sharing personal writings of a former romantic partner and colleague, Caroline Ellison, who is expected to testify against him at trial. 

Bankman-Fried has stated that he shared the documents to protect his reputation, not to intimidate Ellison.

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