FTX founder Sam Bankman-Fried arrives at Manhattan federal court on Friday, August 11th of 2023.
Bebeto Matthews/AP Photo
FTX founder Sam Bankman-Fried had his bail revoked on Friday over alleged witness tampering.
Bankman-Fried was previously released on $250 million bond in December.
The crypto tycoon will now have to report to jail.
Sam Bankman-Fried had his bail revoked by a federal judge on Friday over his alleged tampering with witnesses in his fraud case.
He’ll now have to report to jail.
US District Judge Lewis A. Kaplan said the embattled crypto tycoon who co-founded FTX could no longer be held under house arrest at his parent’s home.
“Nonviolent witness tampering and obstruction poses a danger to the community and the risk of such activities would support pretrial detention,” Judge Kaplan said at a hearing on Friday, according to Courthouse News’ Josh Russell.
Bankman-Fried’s bail entailed a $250
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