• Sam Bankman-Fried, founder of FTX, has agreed to new bail conditions with US prosecutors that will limit his access to technology.
• The proposed conditions include providing Bankman-Fried with a new phone and laptop with limited functions and preventing him from bringing unauthorized devices into his parent’s home.
• Bankman-Fried is facing criminal charges of misappropriating customer funds and making questionable political donations and faces a potential 115 years in prison if convicted.
Sam Bankman-Fried Agrees to Limited Bail Conditions
FTX founder, Sam Bankman-Fried, has agreed to new bail conditions with US prosecutors that will limit his access to technology, according to court documents filed on March 28th. The proposed conditions were submitted for approval to District Judge Lewis Kaplan of the Southern District of New York.
Details of the Bail Conditions
Under the new conditions, Bankman-Fried will be given a new phone with no internet access and limited to text messages and voice calls only. He will also be provided with a new laptop with limited functionality and can only access approved websites. Additionally, his parents have agreed not to let him use their devices or bring unauthorized devices into their homes.
Reason for the Restrictions
This development comes after Judge Lewis Kaplan previously tried to shut down SBF’s access to electronics altogether due suspicions that he was up to something untoward as he had “a garden of electronic devices” at his parent’s house .
Criminal Charges Against Bankman-Fried
As earlier reported by crypto news outlets, Bankman Fried faces criminal charges of swiping billions of dollars in FTX customer funds and making questionable political donations which could see him imprisoned for up 115 years if found guilty when his trial commences on October 2nd 2023. In December 2022, Bankman-Fried posted a $250 million bond and was put under house arrest with location monitoring as well as having had give up his passport; however suspicions were raised when it was alleged he had cashed out $700,000 from an exchange in Seychelles though these accusations remain unfounded at present.
While pending trial Sam Bankman-Freid must adhere strictly adhere adheres strictly adhere adhered strictly adhering strictlyto the stringent bail conditions imposed by Judge Lewis Kaplan in order ensure he does not meddle any further in any illegal activity related FTX or its customers before court proceedings commence later this year