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Court Upholds Detention of Ex-FTX CEO Sam Bankman-Fried, Deeming Release Arguments ‘Unpersuasive’

Started by Bitcoin, Nov 24, 2023, 08:15 am

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Court Upholds Detention of Ex-FTX CEO Sam Bankman-Fried, Deeming Release Arguments 'Unpersuasive'

As Sam Bankman-Fried’s legal representatives gear up to appeal the ex-FTX chief’s recent verdict, they have requested the court for his provisional release from the Metropolitan Detention Center in Brooklyn, New York. Upon examination of Bankman-Fried's claims, a clerk from the court of appeals deemed them “unpersuasive.”


Bankman-Fried's Attempt at Release Has Been Denied by the Court of Appeals


Sam Bankman-Fried is eager to leave incarceration at Brooklyn's Metropolitan Detention Center, where he has been since August. In a recent effort, his attorneys sought to secure his release while preparing for his appeal, filing a motion with the Court of Appeals. However, the court's clerk, Catherine O'Hagan Wolfe, firmly rejected this plea, maintaining the necessity for continued imprisonment.


The decision by the United States Court of Appeals, Second Circuit, is rooted in the initial grounds for revoking his bail. The court identified credible evidence suggesting Bankman-Fried attempted to influence two witnesses, which played a pivotal role in the decision against his release.


Furthermore, the court dismissed the argument that alternatives to detention weren’t adequately evaluated. The district court had previously intensified release stipulations in response to Bankman-Fried’s actions, concluding that no viable option existed apart from detention. The clerk noted:


The record shows that the district court thoroughly considered all of the relevant factors, including the defendant-appellant's course of conduct over time that had required the district court to repeatedly tighten the conditions of release.


Moreover, the court characterized Bankman-Fried's arguments as “unpersuasive" and "denied as moot." His sentencing is scheduled for March 28, 2024, and he potentially faces a sentence exceeding a century for his crimes. These recent legal maneuvers by his team indicate a determination to challenge the case in the Court of Appeals.


What do you think about the court denying Bankman-Fried’s latest attempt for release? Share your thoughts and opinions about this subject in the comments section below.


Source: Court Upholds Detention of Ex-FTX CEO Sam Bankman-Fried, Deeming Release Arguments 'Unpersuasive'