Connect with us

Hi, what are you looking for?

Economy

It will be revealed today if the crypto dad, who has become rich with clients’ money, will be immediately put behind bars

It will be revealed today if the crypto dad, who has become rich with clients’ money, will be immediately put behind bars

Bankman Fried, 31, has pleaded not guilty to stealing billions of dollars in client funds from FTX, which he founded, to pay the losses of his hedge fund, Alameda Research. Today’s hearing will determine whether Bankman Fried can remain free.

Since her December 2022 arrest, Bankman-Fried has been living mostly at her parents’ home in Palo Alto, California, on $250 million bail, but Manhattan prosecutors now want her jailed for witness tampering.

Prosecutors first made their surprise proposal to jail the former billionaire at a July 26 hearing, saying he “crossed the line” by sharing the personal writings of his ex-lover Carolyn Ellison with a New York Times reporter.

Ellison was the CEO of Alameda and is expected to testify against Bankman-Fried after pleading guilty to fraud and agreeing to cooperate with prosecutors. Two other former members of Bankman-Fried’s inner circle also pleaded guilty.

Bankman-Fried’s attorneys say prosecutors misinterpreted her intentions when she shared Ellison’s writings, arguing that she wanted to protect her reputation and had the right to speak to the press.

Cover photo credit: felix mizioznikov via Getty Images

See also  “My father wanted me to be a pianist, but I preferred to play on his Lamborghini.”
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Top News

In a harrowing incident that has shaken the community of Lewiston, Maine, a series of shootings on Wednesday evening resulted in a tragic loss...

Top News

President Joe Biden’s abrupt departure from a speech on the U.S. economy at the White House on Monday sent a ripple of speculation and...

World

Chinese scientists have discovered a little-known type of ore containing a rare earth metal highly sought after for its superconducting properties. The ore, called...

Tech

A dangerous application appeared in the Apple App Store disguised as a known program. 24.hu reported the Based on TechCrunch article. Dangerous app in...

Copyright © 2024 Campus Lately.