Breaking: SBF denied bail by Bahamas Magistrate Court judge
Sam Bankman-Fried’s utility for bail has been denied in a Bahamas Justice of the Peace Court docket on Dec. 13, with presiding Choose JoyAnn Ferguson-Pratt highlighting a “threat of flight.”
The counsel for Bankman-Fried had requested bail be set at $250,000 earlier on Dec. 13, arguing that the 30-year-old crypto government suffered from “despair” and “insomnia,” doesn’t possess a felony report, and didn’t flee the Bahamas regardless of “ample alternative” to take action.
The counsel representing SBF additionally claimed that their shopper hasn’t been taking drugs, together with “Adderall” and “anti-depressants,” since his arrest. The legal professionals additionally stated that SBF doesn’t object to digital monitoring or reporting to an area police station if granted bail.
Nevertheless, regardless of decide Ferguson-Pratt earlier stating the SBF had a proper to request bail, the decide denied the request from Bankman-Fried’s legal professionals, ordering the crypto government to be held in custody on the Bahamas Division of Corrections till Feb. 8, 2023.
The case has been adjourned to the stated date.
FTX UPDATE: SBF leaves Justice of the Peace’s courtroom. He will probably be remanded to The Bahamas Division of Corrections till his matter resumes on Feb 8, 2023. pic.twitter.com/dqXsHeNXSK
— Eyewitness Information Bahamas (@ewnewsbahamas) December 13, 2022
Bankman-Fried was taken into custody on Dec. 12 by the Royal Bahamas Police Power following a proper notification from the USA authorities that it has filed felony expenses in opposition to him — together with eight counts of monetary and elections fraud.
Associated: ‘You possibly can commit fraud in shorts and T-shirts within the solar,’ says SDNY lawyer on SBF indictment
Since then, a number of extra expenses in opposition to Bankman-Fried have come to gentle from varied regulatory authorities, together with the U.S. Securities and Trade Fee, and a lawsuit from the U.S. Commodity Futures Buying and selling Fee.
Replace (Dec. 13, 8:05 pm UTC): Added data concerning SBF’s request for bail
Replace (Dec. 13, 9:55 pm UTC:) Added replace concerning the denial of SBF’s bail utility.
