In his first trial, which begins on October 2, SBF faces at least seven fraud-related charges over his activities at FTX.
By Mayowa Adebajo
Edited by Julia Sakovich
Updated
2 mins read
Former FTX CEO Sam Bankman-Fried (SBF) has been granted a ‘get out of jail’ chance for about seven hours. This follows after a federal judge presiding over his criminal case issued an order to the same effect.
In an August 21 filing, Judge Lewis Kaplan of the United States District Court for the Southern District of New York ruled for SBF to be allowed to meet with his team of lawyers. The ruling will allow SBF to discuss, with his counsel, matters concerning his upcoming hearings. However, the 7-hour-long meeting will only take place in the cell block attorney room at the courthouse. Per the order, the meet is billed to happen from roughly 8:30 AM EST until 3:00 PM on Tuesday, August 22. And during this time, SBF will have access to “one Internet-enabled laptop and one WiFi device.”
It might be worth noting that SBF’s legal team had earlier petitioned the court in an attempt to get their client released for five days every week during the trials. They claimed that the 5 days would help SBF to be well prepared for the case. However, Kaplan’s latest order appears to suggest only a one-time release that will not go beyond the walls of the courthouse.
Recall that the same judge had earlier ordered that SBF’s bail be revoked. That was in an August 11 ruling, where he ordered that the former FTX CEO be sent to the Metropolitan Detention Center in Brooklyn, where he would likely be held until the end of his criminal trials.
In his first trial, which begins on October 2, SBF faces at least seven fraud-related charges over his activities at FTX. Prosecutors believe that he was involved in wire fraud activities and a political financing scheme among many other allegations.
He will be facing another five charges in his second trial slated for March 2024. But so far, Bankman-Fried has pleaded not guilty to all charges leveled against him.
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Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this. He's a reader, a researcher, an astute speaker, and also a budding entrepreneur. Away from crypto however, Mayowa's fancied distractions include soccer or discussing world politics.
