Sam Bankman-Fried’s lawyers push for temporary release, object to prosecutors’ proposed deal


Legal professionals representing former FTX CEO Sam Bankman-Fried, or SBF, have claimed the “extraordinary lodging” provided by authorities have been inadequate to ensure that him to organize for his legal trial in October.

In an Aug. 25 submitting in United States District Courtroom for the Southern District of New York, SBF’s authorized workforce mentioned the plan proposed by prosecutors to permit the previous FTX CEO entry to discovery supplies earlier than trial have been insufficient. Legal professionals mentioned the U.S. Justice Division produced roughly 4 million pages value of discovery supplies on Aug. 24 and there have been “tens of millions of pages of paperwork and terabytes of information” left for SBF to evaluation for his legal trial.

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“We don’t imagine that something wanting short-term launch will correctly deal with these issues and safeguard Mr. Bankman-Fried’s proper to take part in his personal protection,” mentioned the submitting. “Earlier than his bail was revoked, Mr. Bankman-Fried was spending 80-100 hours per week reviewing the voluminous discovery and creating detailed analyses that he may replace consistently and share along with his attorneys.”

Bankman-Fried had been free on a $250-million bond for roughly 8 months following his extradition from the Bahamas and arraignment within the U.S. in December 2022. Nevertheless, following allegations of witness intimidation of former Alameda Analysis CEO Caroline Ellison, a federal choose revoked his bail. Since Aug. 11, roughly two months earlier than the beginning of his first legal trial, SBF has been remanded to the Metropolitan Detention Heart in Brooklyn.

Since his bail was revoked, SBF’s authorized workforce has been pushing for fewer restrictions permitting him time exterior jail with a view to put together for trial. A choose dominated on Aug. 21 that SBF be allowed roughly seven hours within the New York courthouse cell block lawyer room on Aug. 22, and later issued an order giving him access to the same space with one laptop computer and wifi-enabled machine on a seemingly limitless foundation supplied his attorneys gave 48 hours’ discover.

“Mr. Bankman-Fried wants fixed entry to an internet-enabled pc that enables him to evaluation paperwork from discovery, lookup related context for the proof on-line, draft and edit work product analyzing the paperwork and knowledge, and share these paperwork and analyses along with his attorneys,” claimed his authorized workforce. “The Authorities’s present plan […] comes nowhere near this.”

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SBF’s first of two trials is scheduled to start on Oct. 3, by which he’ll face seven costs associated to fraudulent actions involving consumer funds at FTX and Alameda Analysis. The second trial, scheduled for March 2024, will embody 5 different legal costs.

In keeping with court docket filings, Bankman-Fried’s authorized workforce could pursue a defense claiming the previous CEO acted “in good religion” on recommendation of attorneys from Fenwick & West and FTX’s in-house counsel. These allegedly unlawful actions included SBF directing that sure communications between FTX and Alameda staff be robotically deleted.

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