The former CEO of the now-bankrupt crypto change made his 2nd look in a New York courthouse on Tuesday. Bankman-Fried’s first look closing week ended in him being launched on a non-public recognizance bond and, quickly after, flying lower back to his parents’ domestic in California. He’s now no longer responsible plea changed into anticipated, consistent with an advanced record within the Wall Street Journal. Assistant U.S. Attorney Danielle Sassoon instructed the courtroom docket that the prosecution anticipated most of its discovery to be finished in the coming weeks. She said the authorities would produce substances it had accessed in the subsequent numerous weeks. This consists of files shared via way of means of FTX’s financial ruin attorneys.
Judge Kaplan also granted Bankman-Fried’s motion to seal the names of the two co-signers who guaranteed her $250 million in bail and her parents. The media may object to blacking out the bond signatories’ identities. Until January 12. Bankman-Fried’s attorneys had argued there were security and privacy concerns about disclosing the names of co-signers. On behalf of the government, Sassoon asked the court to amend the terms of Bankman-Fried’s bond, requesting that he be barred from accessing or transferring any assets associated with FTX or its affiliates.
He was referring to last week’s discovery that several Alameda wallets had started moving thousands of dollars’ worth of cryptocurrencies to other wallets. Was not involved in these transactions and had indeed cooperated with prosecutors, which Sassoon conceded, the judge ruled that Bankman-Fried should not be able to access or transfer funds related to FTX or Alameda.
Bankman-Fried was arrested in the Bahamas last month after federal prosecutors unsealed eight separate charges against him the next day. Prosecutors alleged that Bankman-Fried “embezzled” customer deposits and used customer funds to pay FTX for sister company Alameda Research’s expenses and debts while lying about FTX’s financial health. They were defrauding its customers, investors, and lenders and being charged with campaign finance regulations. Before the trial, the lawyers have time to review the extensive discovery of the case. Attorneys for Bankman-Fried have until April 3 to file a motion. To dismiss the case and federal prosecutors have until April 24 to respond.
Bankman-Fried’s subsequent response is due May 8, and both sides may present their cases at a hearing on May 18 at 10:00 am. east.