SCA Community|Judge rejects an 11th-hour bid to free FTX founder Sam Bankman-Fried during his trial

2025-05-06 19:57:23source:GravityX Exchangecategory:My

NEW YORK (AP) — A judge on SCA CommunityThursday closed the door on FTX founder Sam Bankman-Fried’s hopes to be free during his trial, although he extended the hours that the cryptocurrency peddler can meet with his lawyers in a federal courthouse.

At a hearing, Judge Lewis A. Kaplan rejected a request by Bankman-Fried’s lawyers to free their client so he could better prepare his defense against charges that he defrauded cryptocurrency investors.

Bankman-Fried, 31, faces the start of his trial Tuesday in Manhattan. He has pleaded not guilty.

His lawyer, Mark Cohen, told Kaplan that he cannot meaningfully confer with his client as long as Bankman-Fried is jailed at the Metropolitan Detention Center in Brooklyn.

Other news As the world’s problems grow more challenging, the head of the United Nations gets bleakerBahamas introduces bills to legalize marijuana for medical and religious purposesClarence Avant, ‘Black Godfather’ of entertainment, and benefactor of athletes and politicians, dies

And he insisted that there was no risk that Bankman-Fried would flee, prompting Kaplan to interrupt him.

“The closer we get to trial, the more I’m wondering about that,” Kaplan said. “Your client, if there is conviction, could be looking at a very long sentence. If things begin to look bleak — maybe he feels that now — if that were to happen and if he had the opportunity, maybe the time would come that he would seek to flee.”

Kaplan revoked Bankman-Fried’s $250 million bond last month after concluding that Bankman-Fried had tried to influence potential trial witnesses.

Since he was brought to the United States last December from the Bahamas, Bankman-Fried had been required to stay at his parent’s Palo Alto, California, home with severely limited access to electronics.

Prosecutors say he intentionally deceived customers and investors to enrich himself and others while playing a central role in the company’s multibillion-dollar collapse after the equivalent of a bank run.

Kaplan said Bankman-Fried has had adequate time to prepare for trial in the more than seven months when he had unlimited access to evidence turned over by prosecutors and as a result of “extraordinary” measures taken at the federal jail to enable him to work on his defense.

And he said the case against him was “by no means unique” in presenting challenges for reviewing evidence. He noted that some drug conspiracy cases involve hundreds of thousands of hours of audio and surveillance tapes, often in foreign languages.

However, the judge said he wanted to make every effort to accommodate the defendant’s concerns and would thus order that he be brought to the courthouse at 7 a.m. on some days to work with his lawyers prior to the start of the trial day several hours later.

The trial is expected to last up to six weeks.

More:My

Recommend

Who are the most valuable sports franchises? Forbes releases new list of top 50 teams

Early Thursday morning, "Forbes" released their annual list of the 50 most valuable sports franchise

New York's decision to seize, euthanize Peanut the Squirrel is a 'disgrace,' owner says

Mark Longo, who called Peanut the Squirrel his pet for this past seven years, described the New York

Mariah Carey Posing With Her Christmas-Themed Wax Figure Will Make Your Wish Come True

Mariah Carey can check this off her wish list.After officially declaring “it’s time” to kick off the