Connect with us

Hi, what are you looking for?

World

Sam Bankman Freed, founder of the cryptocurrency exchange, is imprisoned

Sam Bankman Freed, founder of the cryptocurrency exchange, is imprisoned

He violated the terms of his house arrest.

The court changed it to a prison Sam Bankman Fried House arrest because a businessman charged with economic crimes violated the terms of his house arrest, MTI reports.

The founder of bankrupt cryptocurrency firm FTX has been led out of court after the decision was made in New York on Friday night.

Judge Louis A. Kaplan stated that there are good reasons for issuing the prison order, because the accused has tried to influence the crown prince’s witnesses at least twice since he was placed under house arrest last December, in part by making statements in the media and revealing private correspondence. The judge added that it was very likely that there were several similar attempts by Bankman-Fried to discourage witnesses from cooperating with the prosecution, which is also an offence.

Prosecutors asked the court in late July to order that Bankman-Fried be jailed pending trial because he tried to influence witnesses for the prosecution, including his ex-girlfriend.

According to the defense attorneys, their client was only trying to protect his reputation by making statements against unfavorable media coverage of him.

Sam Bankman-Fried, who had a fortune of more than twenty billion dollars as head of the cryptocurrency exchange FTX, is accused of stealing billions of dollars from clients of his company, which he used partly for his own purposes and partly turned into his private property. Venture capital investment company. It also provided political support, mostly for the purposes of the Democratic Party, but Republicans profited from it as well.

See also  Attention wise and customer wise revolution! A local bank is introducing new fees for cash withdrawals

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Your email address will not be published.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...

Top News

Given the differences in styles with next-generation consoles, the so-called “console war” between Sony and Microsoft is arguably moot. Most console players, however, will...

Copyright © 2024 Campus Lately.