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In a well-known chorus, Sam Bankman-Fried has been denied launch on bail forward of his felony trial scheduled to start subsequent week.

Choose Lewis Kaplan defined that the previous CEO could face a “very lengthy sentence” if convicted at his fraud trial set to start subsequent week.

Reuters quoted Choose Kaplan as saying:

“Your consumer, within the occasion of conviction, may very well be a really lengthy sentence. If issues start to look bleak … perhaps the time would come when he would search to flee.”

The report additional particulars that U.S. District Choose Lewis Kaplan denied Bankman-Fried’s request for short-term launch throughout the trial, citing the defendant’s potential flight threat.

Bankman-Fried, who’s been indicted on seven counts of fraud and conspiracy stemming from FTX’s collapse in November 2022, is at present detained on the famed Metropolitan Detention Middle (MDC) in Brooklyn, notorious for its poor situations. the ability has been the holding floor for a number of high-profile inmates and has been criticized for its staffing shortages, energy outages, and poor sanitation.

Bankman-Fried’s authorized staff had argued for his short-term launch earlier than the trial, insisting that the present detention situations hinder their means to effectively put together for the upcoming proceedings.

Choose Kaplan  expressed sympathy for the protection’s issues however insisted on arranging for Bankman-Fried to reach at court docket at 7 a.m. on most trial days to debate issues along with his authorized staff earlier than the proceedings start.

The approaching trial, set to begin on October 3 and will last as long as six weeks, will focus totally on the costs associated to fraud and cash laundering.

Immune witnesses

Prosecutors additionally requested immunity from prosecution for 2 further witnesses in alternate for his or her testimony towards Bankman-Fried. The identification of those witnesses, nonetheless, stays undisclosed. A number of of Bankman-Fried’s former associates, together with Caroline Ellison and Ryan Salame, have already pleaded responsible to different prices linked to the collapse of FTX and its sister agency, Alameda Analysis.

The submit Courtroom denies Sam Bankman-Fried’s movement for pre-trial launch but once more appeared first on CryptoSlate.

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