Sam Bankman-Fried’s utility for bail has been denied in a Bahamas Justice of the Peace Court docket on Dec. 13, with presiding Decide JoyAnn Ferguson-Pratt highlighting a “threat of flight.”
The counsel for Bankman-Fried had requested bail be set at $250,000 earlier on Dec. 13, arguing that the 30-year-old crypto govt suffered from “despair” and “insomnia,” doesn’t possess a legal report, and didn’t flee the Bahamas regardless of “ample alternative” to take action.
The counsel representing SBF additionally claimed that their consumer hasn’t been taking medicines, together with “Adderall” and “anti-depressants,” since his arrest. The attorneys additionally stated that SBF doesn’t object to digital monitoring or reporting to an area police station if granted bail.
Nevertheless, regardless of choose Ferguson-Pratt earlier stating the SBF had a proper to request bail, the choose denied the request from Bankman-Fried’s attorneys, ordering the crypto govt to be held in custody on the Bahamas Division of Corrections till Feb. 8, 2023.
The case has been adjourned to the stated date.
FTX UPDATE: SBF leaves Justice of the Peace’s courtroom. He will probably be remanded to The Bahamas Division of Corrections till his matter resumes on Feb 8, 2023. pic.twitter.com/dqXsHeNXSK
— Eyewitness Information Bahamas (@ewnewsbahamas) December 13, 2022
Bankman-Fried was taken into custody on Dec. 12 by the Royal Bahamas Police Pressure following a proper notification from the US authorities that it has filed legal prices in opposition to him — together with eight counts of economic and elections fraud.
Associated: ‘You possibly can commit fraud in shorts and T-shirts within the solar,’ says SDNY lawyer on SBF indictment
Since then, a number of extra prices in opposition to Bankman-Fried have come to mild from numerous regulatory authorities, together with the U.S. Securities and Alternate Fee, and a lawsuit from the U.S. Commodity Futures Buying and selling Fee.
Replace (Dec. 13, 8:05 pm UTC): Added info relating to SBF’s request for bail
Replace (Dec. 13, 9:55 pm UTC:) Added replace relating to the denial of SBF’s bail utility.
