FTX Founder’s New Release Request Rejected by the Court
- An appellate court has once more rejected the release of FTX founder Sam Bankman-Fried.
- The US Court of Appeals for the Second Circuit said that it found SBF’s arguments “unpersuasive.”
- The court said that SBF tampering with two witnesses on pretrial release was a major reason for denying the appeal.
- Witness tampering “falls outside the zone of constitutional protection,” the court said.
The lawyers representing Sam Bankman-Fried, also known as SBF in the digital asset space, filed once again for the release of the co-founder of the now-bankrupt crypto trading platform FTX. However, the US Court of Appeals for the Second Circuit denied the latest attempt from the disgraced crypto entrepreneur, confirming that SBF will have to stay in jail as his lawyers try to appeal his case.
As per a mandate issued on November 21, the court said that a major reason why the appeal was rejected was Bankman-Fried’s attempts to tamper with two witnesses in the FTX trial while on pretrial release. “We have reviewed the Defendant-Appellant’s additional arguments and find them unpersuasive,” Clerk of Court Catherine O’Hagan Wolfe wrote while adding:
“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.”
It is important to note here that back in July, US prosecutors accused the former FTX chief executive of leaking the diaries belonging to Caroline Ellison, the former CEO of controversial trading firm Alameda Research, to The New York Times. This resulted in the disgraced entrepreneur’s bail being revoked by a New York District Court. It “is apparent” that documents were shared by Bankman-Fried, said US Attorney Damian Williams.
Interestingly, SBF argued that the New York court failed to consider that he was engaged in activity considered freedom of speech protected under the First Amendment. However, in response, the appellate court stated that the New York District Court ruled correctly and that witness tampering “falls outside the zone of constitutional protection.”
The lawyers representing the former FTX executive also argued that the New York district court failed to consider a less restrictive alternative to detention. In its response, the appellate court said that the district court “thoroughly considered” all relevant factors.
After the testimony from several FTX employees and people from SBF’s “inner circle,” the jury found Bankman-Fried guilty of all charges and is facing more than a hundred years of prison time. The sentencing will take place in March 2024. As reported earlier by Bitnation, former Department of Justice (DoJ) prosecutor Renato Mariotti believes that Bankman-Fried will serve 25 years in prison.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
