FTX co-founder Sam Bankman-Fried was taken into custody and his bail was rescinded on Friday, in anticipation of his trial scheduled for October. Matthew Russell Lee of the Inner City Press disclosed a synopsis of the August 11 hearing on the social media outlet X, where Bankman-Fried’s legal counsel revealed that the attorneys intended to challenge the ruling. However, despite these intentions, Bankman-Fried was subsequently taken into custody by the U.S. Marshals.
Sam Bankman-Fried Remanded to Jail After Bail Revocation
In the past fortnight, the legal team prosecuting the case against Sam Bankman-Fried has been striving to incarcerate the former FTX CEO on grounds of suspected witness tampering. Bankman-Fried disseminated selected passages from an online journal penned by former Alameda CEO Caroline Ellison to a New York Times journalist.
The Department of Justice (DOJ) has asserted that these leaked fragments were designed to cow a witness slated to testify against the one-time h
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