Bankman-Fried, the founder of FTX, forgot the number one rule as a defendant: do not make matters worse.
Mr. Fried is headed to prison after a judge decided to take away his bail for alleged witness tampering. Since his arrest in December, he was out on a $250 million bail, but that all changed after his court appearance on Friday.
The judge’s decision came after evidence that Bankman-Fried had been dealing with the press, including leaking private diary entries of his ex-girlfriend, Caroline Ellison, who will be a key witness for the prosecution. Despite objections from the press and defense attorneys, who said he was just using his right to free speech, the judge sided with prosecutors.
Bankman-Fried faces several fraud charges related to FTX, and his actions were seen by the prosecution as an attempt to scare away witnesses through the media. He will stay in jail until his criminal trial, set to begin on Oct. 2.
This video will cover the key details of the case, looking at what happened in court, what it means for Bankman-Fried, and what might come next in this high-profile legal fight.
Justin Paperny
