Bankman-Fried hearing set, but he can stay on West Coast

Author of the article: The Associated Press Larry Neumeister Published Mar 07, 2023  •  1 minute read Join the conversation NEW YORK (AP) — The federal judge presiding over the case prosecutors brought against FTX founder Sam Bankman-Fried said Tuesday that the cryptocurrency entrepreneur can remain on the West Coast while his lawyers attend a…
Bankman-Fried hearing set, but he can stay on West Coast

Author of the article:

The Associated Press

Larry Neumeister

Published Mar 07, 2023  •  1 minute read

Join the conversation

NEW YORK (AP) — The federal judge presiding over the case prosecutors brought against FTX founder Sam Bankman-Fried said Tuesday that the cryptocurrency entrepreneur can remain on the West Coast while his lawyers attend a hearing Friday.

Judge Lewis A. Kaplan set the pretrial hearing in New York City and excused Bankman-Fried from attending.

Financial Post Top Stories

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

Three weeks ago, Kaplan suggested that jailing Bankman-Fried might be the best way to keep him from attempting to break rules he must follow under the terms of his $250 million bond. He has been allowed to stay with his parents in Palo Alto, California, while he awaits trial.

THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY

Subscribe now to read the latest news in your city and across Canada.

  • Unlimited online access to articles from across Canada with one account
  • Get exclusive access to the National Post ePaper, an electronic replica of the print edition that you can share, download and comment on
  • Enjoy insights and behind-the-scenes analysis from our award-winning journalists
  • Support local journalists and the next generation of journalists
  • Daily puzzles including the New York Times Crossword

Subscribe now to read the latest news in your city and across Canada.

  • Unlimited online access to articles from across Canada with one account
  • Get exclusive access to the National Post ePaper, an electronic replica of the print edition that you can share, download and comment on
  • Enjoy insights and behind-the-scenes analysis from our award-winning journalists
  • Support local journalists and the next generation of journalists
  • Daily puzzles including the New York Times Crossword

Create an account or sign in to continue with your reading experience.

  • Access articles from across Canada with one account
  • Share your thoughts and join the conversation in the comments
  • Enjoy additional articles per month
  • Get email updates from your favourite authors

His communications have been a particular area of concern, though lawyers on both sides have apparently struck a deal that might be addressed by the judge on Friday.

Prosecutors said in a letter to the judge last Friday that Bankman-Fried’s attorneys had agreed Bankman-Fried could have a flip phone or other non-smartphone with either no internet capabilities or its internet capabilities disabled.

Several weeks ago, prosecutors alleged that Bankman-Fried accessed the internet twice through a virtual private network, or VPN, which blocks third parties from seeing online activity.

They also said he sent an encrypted message over the Signal texting app in January to the general counsel of FTX US, a move they argued might indicate witness tampering.

With the new proposal, Bankman-Fried’s phone functions would be limited to SMS text messages and voice calls.

He also could access a new laptop with limited use that will confine him to websites that have been whitelisted. They include sites he can use to prepare for his defense and others for personal news.

Prosecutors recently boosted charges against Bankman-Fried, who had pleaded not guilty to charges that he cheated investors and looted customer deposits at FTX, his cryptocurrency platform.

It was unclear if his lawyers would enter a plea to the new charges on Friday.

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
Transaction in Own Shares
Read More

Transaction in Own Shares

Author of the article: Published Mar 17, 2023  •  2 minute read 17 March, 2023 • • • • • • • • • • • • • • • • Financial Post Top Stories Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc. By clicking…
Copper prices edge higher as Russia-Ukraine tensions ease
Read More

Copper prices edge higher as Russia-Ukraine tensions ease

Author of the article: Copper prices firmed on Wednesday as easing fears of a Russian invasion of Ukraine boosted risk appetite, with investors closely watching the release of the Federal Reserve’s January policy meeting minutes for clues on the roadmap for rate hikes. Three-month copper on the London Metal Exchange (LME) was up 0.2% at…