Sam Bankman-Fried Thrown in Jail Over Bail Shenanigans
The luck ran out for FTX founder Sam Bankman-Fried on Friday, when a New York judge ordered that he be confined to jail in advance of his October trial.
The former billionaire had repeatedly angered both prosecutors and the court while out on bail following his arrest in December. Most recently, he leaked documents to The New York Times about his former lover Caroline Ellison, who once ran Bankman Fried’s hedge fund and is likely to be a witness in his trial.
Prosecutors framed the leaks as a possible attempt at witness tampering, both by intimidating Ellison and influencing public perception of her in the media. An assistant U.S. attorney argued in court last month that there was “no set of conditions short of detention to ensure the safety of the community.”