Dec 16, 2022 08:14 UTC
Dec 16, 2022 at 08:14 UTC
Bahamas media reports that Sam Bankman-Fried lodged a brand new bid for bail simply 2 days after decision denied his previous application and referred to as the FTX founder a flight risk.
Sam Bankman-Fried, the captive founder of bankrupt cryptocurrency exchange FTX has reportedly filed a brand new application for bail within the land Supreme Court following his previous unsuccessful bail bid.
Local media on Dec. 15 rumored the founder submitted the application which it’d be detected before the court in barely over one month’s time on Jan. 17, 2023. but it didn’t cite any sources.
Previously, on Dec. 13, Bankman-Fried’s lawyers had argued for him to be unchained on bail set at $250,000 as he had no previous convictions and was tormented by depression and sleep disorder. The presiding judge denied bail to the crypto executive a flight risk.
Bankman-Fried is remanded at Fox Hill jail, the sole jail within the land.A 2021 U.S. The State Department reported the same conditions at Fox Hill were “harsh” and overcrowded with poor medical aid, sanitation and nutrition. Correctional officers were purported to physically abuse detainees.
Extradition to the U.S. is on the cards because the Bahamian government has the same “promptly” method for any surrender request because the exchange founder faces eight charges together with concealment, wire fraud, and securities fraud.
The slew of charges may see Bankman-Fried land in jail for one hundred fifteen years, however legal commentators have told Cointelegraph there’s a “lot to play out” Saying the case may take years till it’s resolved.