The native media within the Bahamas reported that Sam Bankman-Fried has submitted a brand new request for launch on bail. This comes simply two days after a court docket dismissed Sam Bankman-request Fried’s for bail on the grounds that the FTX founder constituted a flight threat. The court docket’s clarification for its choice was that Bankman-Fried posed a possible flight threat.
In response to what has been reported, Sam Bankman-Fried, who’s at present doing time in jail for his position within the failure of the cryptocurrency change FTX, has made a second enchantment to the Supreme Courtroom of the Bahamas in an effort to be launched from custody. This follows an earlier try to get out of jail on bond, which was denied.
On December 15, a bit of multiple month after the preliminary report was made, native media said that the applying had been submitted by the writer and that will probably be assessed by the court docket on January 17, which is a bit more than one month after the report had been made initially.
Previous to this, on the thirteenth of December, Bankman attorneys Fried’s requested for him to be launched on bond within the quantity of $250,000 attributable to the truth that he didn’t have any prior convictions and was affected by melancholy in addition to sleeplessness. They argued that he ought to be launched as a result of he didn’t have any prior convictions and since he was unable to sleep. On high of that, he didn’t have any prior convictions to his title.
The request for bail was turned down by the decide who was presiding over the case as a result of the decide thought-about there was a threat that the crypto govt would depart the jurisdiction.
The truth that the federal government of the Bahamas has declared that it’s going to promptly perform any request lends credence to the notion that extradition to the US is a believable possibility beneath the circumstances offered right here.
In the US, the person who designed FTX is being investigated for eight distinct felonies in the intervening time. A few of these prices contain cash laundering, whereas others contain wire fraud and securities fraud.
The variety of allegations may land Bankman-Fried in jail for 115 years, however authorized analysts have advised Cointelegraph that there’s a lot to play out and that the case may take years to return to a conclusion because of the complexity of the allegations. In different phrases, the variety of claims may land Bankman-Fried in jail for 115 years.