Bahamian court refuses bail for FTX founder
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Sam Bankman-Fried, founder of bankrupt cryptocurrency exchange FTX, will not be released on bail by Bahamian authorities. The corresponding decision was made by a court in the Bahamas, justifying this by a high risk of the detainee escaping.
“At the end of the hearing, which lasted more than three hours, the judge denied Mr. Bankman-Fried bail – he will remain in the custody of the Bahamian authorities. The Chief Justice, Joyann Ferguson-Pratt, said that Mr. Bankman-Fried’s access to financial resources made his risk of flight “so great” that he needed to remain behind bars. The New York Times course of the court session.
Mr. Bankman-Fried’s defense insisted on his release, arguing that he was taking medication for depression and agreed to a curfew and electronic surveillance. “Mr. Bankman-Freed decided to stay in the Bahamas to ‘make things right’ even when his company collapsed, showing that he had no intention of leaving,” NYT reporters argue the lawyer for the founder of FTX.
Sam Bankman-Freed will remain in detention until at least February 2023, when consideration for his extradition to the United States begins. On December 13, the US authorities accused Mr. Bankman-Fried of defrauding investors and announced that they were continuing to investigate the activities of FTX and its subsidiaries; on the same day, the founder of the crypto exchange was arrested in the Bahamas at the request of the United States.
On November 11, FTX Group (operator of Bahamas-registered FTX) filed for bankruptcy. Earlier, a scandal broke out in the crypto community around FTX due to liquidity problems, which provoked a collapse of the crypto exchange token. Subsequently, the company was appointed new anti-crisis CEO John Ray, who announced “an unprecedented and complete failure of corporate control and an absolute absence of credible financial information” in the company.
About the history of the FTX Group – in the material “Kommersant” “Geek Corporation”.
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