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Former FTX chief in prison after parole revoked

Former FTX chief in prison after parole revoked

A New York federal judge sent Sam Bankman-Fried, the former head of cryptocurrency exchange FTX, back to prison on Friday after finding he had violated the rules of his parole.

• Also read: Cryptocurrency: Ex-FTX boss released on $250 million bail

• Also read: The former head of FTX has pleaded not guilty to five new charges, including bribery

• Also read: FTX scandal: Tom Brady sued

The district attorney’s office was behind that appeal to overturn the parole, and Sam Bankman-Fried has been charged with witness tampering.

According to the prosecutor, he notably passed documents to The New York Times in an attempt to influence the testimony of Carolyn Ellison, the former CEO of his investment firm Alameda who was accused of and agreed to cooperate with US authorities.

At the end of the hearing, Judge Louis Kaplan of the Southern District of New York ordered the defendants “to be held by the US Marshall Islands,” the federal security agency responsible for the prisoners.

Awaiting trial, he was placed under house arrest with his parents in California after posting $250 million bail.

Indicted in particular for fraud and criminal association, “SBF,” his nickname, was extradited at the end of December 2022 from the Bahamas, where FTX is headquartered.

He has pleaded not guilty to all charges over the months. His trial is scheduled to begin in October in New York.