Sam Bankman-Fried is being sent to jail after a judge revoked his bail over alleged witness tampering

Sam Bankman-Fried was sent to jail on Friday after a federal judge revoked his $250 million bail, convinced that he had repeatedly sought to influence people actually or potentially involved in his fraud trial slated for October. The onetime crypto whiz and FTX founder had been released on the hefty bond package in December, and subjected to house arrest since then. Even with restrictions on his phone and any gaming device that allowed ‘chat or voice communication’, US District Judge Lewis Kaplan overturned his case, saying there was cause to believe for fraudulently collecting millions of dollars from investors’ accounts for his own gain, Bankman-Fried had tried to tamper with witnesses not once, but twice.

Insisting he was innocent in all of this assault on his reputation – which threatened to backfire should future jurors be affected by his sowing against — Kaplan nonetheless said a risk still posed by the community proved itself to hold more precedence, maintaining that prior defense posed during the arguments up his detention. Bankman-Freid’s erstwhile girlfriend, Caroline Ellison,.pleaded guilty beforehand to a swarm of criminal charges stacking up a potential penalty of 110 years in prion. A trial bargain is part of the sentences entail She testifying aganst her onetime partner-in-crime on points which if proven, could see the latter ending up severely punished.

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