Sam Bankman-Fried, the jailed founding father of bankrupt cryptocurrency trade FTX, has reportedly filed a brand new utility for bail within the Bahamas Supreme Court docket following his earlier unsuccessful bid for launch.
Native media on Dec. 15 reported that the founder submitted the appliance and that it might be heard earlier than the courtroom in simply over one month’s time, on Jan. 17. Nevertheless the report didn’t cite any sources.
Beforehand, on Dec. 13, Bankman-Fried’s legal professionals had argued for him to be let loose on bail set at $250,000 as he had no prior convictions and was affected by melancholy and insomnia. The presiding choose denied bail, calling the crypto government a flight danger.
Bankman-Fried is remanded at Fox Hill Jail, the one jail within the Bahamas. A 2021 U.S. State Division report stated circumstances at Fox Hill had been “harsh” and overcrowded with poor medical care, sanitation and vitamin. Correctional officers had been alleged to bodily abuse detainees.
Associated: FTX Bahamas co-CEO Ryan Salame blew the whistle on FTX and Sam Bankman-Fried
Extradition to the U.S. is on the playing cards because the Bahamian authorities has stated it should “promptly” course of any request. The FTX founder faces eight U.S. fees, together with cash laundering, wire fraud, and securities fraud.
The slew of fees might see Bankman-Fried land in jail for 115 years, however authorized commentators have advised Cointelegraph there’s a “lot to play out,” saying the case might take years to resolve.
