FTX's Bankman-Fried Headed For Jail After Judge Revokes Bail

A U.S. judge revoked Sam Bankman-Fried's bail due to probable cause that he tampered with witnesses at least twice. U.S. District Judge Lewis Kaplan rejected a defense request to delay SBF's detention pending appeal of the bail revocation. Reuters reports: The decision could complicate Bankman-Fried's efforts to prepare for trial, where the 31-year-old former billionaire faces charges of having stolen billions of dollars in FTX customer funds to plug losses at his Alameda Research hedge fund. Bankman-Fried has pleaded not guilty. He was led out of the courtroom by members of the U.S. Marshals Service in handcuffs after removing his shoelaces, jacket and tie and emptying his pockets. His parents, both law professors at Stanford University, were present in the courtroom's audience. His mother, Barbara Fried, nodded to him in tears as he left. His father, Joseph Bankman, placed his hand over his heart as he watched his son be led away. Bankman-Fried has been largely confined to his parents' Palo Alto, California, home on $250 million bond since his December 2022 arrest.

Read more of this story at Slashdot.