Former FTX CEO Requests Extension To File Bail Conditions Proposal

Lawyers representing former FTX CEO Sam Bankman-Fried have requested an extension to file a proposal related to his bail conditions. The legal team has requested an extension until March 3rd to submit a proposal for Bankman-Fried’s additional bail conditions. They are also searching for a qualified technical expert to assist with the case.

The Court brought SBF back several times to face proceedings related to his bail conditions. The Court has hinted at revoking SBF’s bail entirely, likely leaving him in federal custody until his October criminal trial.

Bankman-Fried’s legal team is searching for a technical consultant for the Court but has not found a suitable candidate yet. They decided to hire an expert after a Feb 16th hearing on the former FTX CEO’s use of a VPN.

Lawyers representing Bankman-Fried reported engaging in discussions on additional bail conditions in the same filing. However, they stated that they needed more time to complete those discussions. The Government has no objections to this request.

Additional Restrictions For FTX Ex CEO

At the hearing, Judge Lewis Kaplan suggested adding more restrictions to Bankman-Fried’s $250 million bail conditions. This followed a report that FTX SBF used a VPN on Jan 29th and Feb 12th. Bankman-Fried’s lawyers explained he used VPNs to watch football games but agreed to stop using them until the Court could decide.

On Feb 22nd, the Court revealed a superseding indictment against FTX ex-CEO Bankman-Fried, with 12 criminal counts, instead of the eight charges from Dec 13th. The indictment accused him of bank fraud conspiracy and unlawful political contributions, using straw donors to make contributions totaling tens of millions of dollars. Since his arraignment in Dec 2022, Bankman-Fried has been confined to his parent’s California home.

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Judge Kaplan suggested revoking SBF’s bail entirely, which would leave him in federal custody until his criminal trial in Oct. It’s unclear whether Bankman-Fried will receive further extensions to file his proposal or what additional bail conditions will be imposed upon him.

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