Bankman-Fried's bail was revoked earlier this month, when a federal judge found probable cause to believe he broke the law by trying to influence witnesses who are expected to testify against him.
Former FTX executive Sam Bankman-Fried will be arraigned Tuesday in federal court in Lower Manhattan.Former FTX executive Sam Bankman-Fried will be arraigned Tuesday in federal court in Lower Manhattan on the most recent version of his indictment.Bankman-Fried's bail was revoked earlier this month when a federal judge found probable cause to believe he broke the law by trying to influence witnesses who are expected to testify against him.
U.S. District Judge Lewis A. Kaplan ordered Bankman-Fried's bail revoked after prosecutors said he'd tried to harass a key witness in his fraud case last month when he showed a journalist her private writings and in January when he reached out to the general counsel for FTX with an encrypted communication.
His lawyers insisted he shouldn't be jailed for trying to protect his reputation against a barrage of unfavorable news stories. Kaplan said he had concluded there was probable cause to believe Bankman-Fried had tried to "tamper with witnesses at least twice" since his December arrest. The 31-year-old had been under house arrest at his parents' home in Palo Alto, California, since his December extradition from the Bahamas on charges that he defrauded investors in his businesses and illegally diverted millions of dollars' worth of cryptocurrency from customers using his FTX exchange.
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