FTX founder, Sam Bankman-Fried, who has been convicted of fraud, has been denied his request for release by a U.S. appellate court while his legal team appeals his conviction.
The U.S. Court of Appeals for the Second Circuit, in a mandate issued on November 21, stated that one of the key reasons for rejecting his request was his previous attempts to tamper with witnesses while on pretrial release.]
Bankman-Fried faced accusations from government prosecutors that he leaked Caroline Ellison’s diaries to The New York Times in July.
This action led to the revocation of his bail by a New York District Court. In response, Bankman-Fried argued that the New York court had failed to recognize that his actions were protected under the First Amendment as freedom of speech.
However, the appellate court upheld the New York District Court’s decision, asserting that witness tampering is not constitutionally protected.
Bankman-Fried’s legal team also contended that the district court did not adequately consider alternatives to detention.
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However, the appellate court dismissed this argument, emphasizing that the district court had meticulously examined all relevant factors, including Bankman-Fried’s behavior while on pretrial release.
On November 2, Bankman-Fried was found guilty of seven charges related to fraud and money laundering. As a result, the former CEO of FTX will remain in custody until his sentencing, scheduled for March 28 next year.
In summary, Sam Bankman-Fried’s efforts to secure his release from jail pending the appeal of his conviction have been denied by the U.S. Court of Appeals for the Second Circuit.
The court cited his previous attempts to tamper with witnesses as a significant factor in their decision.
Despite arguments about freedom of speech and alternative detention options, the court upheld the New York District Court’s decision to revoke his bail.
Bankman-Fried will remain in custody until his sentencing in March next year following his conviction on fraud and money laundering charges.
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