Sam Bankman-Fried, the founder of FTX, has gone to jail after a federal judge revoked his bond. We now know the judge really is somewhat fed up with Bankman-Fried’s actions, said Judge Lewis Kaplan, who read out a 20-minute order walking through why he believed the FTX founder’s bond should be revoked. Bankman-Fried is facing seven different charges, including securities fraud, wire fraud, commodities fraud and money laundering.
The DOJ alleges that Bankman-Fried directed the use of customer funds to buy Bahamas real estate, make personal investments, and donate to political campaigns. The DOJ also wants to play FTX ads and business records, and has a section saying the court shouldn’t allow Bankman-Fried to argue there was insufficient regulatory oversight.
The defense team filed a much shorter set of motions in limine, starting with an argument that the DOJ shouldn’t be allowed to introduce any evidence that was produced for the defense team as discovery after July 1, 2023. The ball is now in the judge’s court, both for scheduling another arraignment on the latest superseding indictment and in responding to the motions.