Michael M. Santiago
U.S. District Judge Lewis A. Kaplan said he would revoke Sam Bankman-Fried’s $250M bail package, Bloomberg reported Friday, resulting in the founder of cryptocurrency exchange FTX (FTT-USD) being taken into custody.
Since last December, SBF, who has been accused of defrauding FTX customers and investors, has lived in his parent’s home in Palo Alto, California, under house arrest.
Kaplan made the order to end SBF’s bail at a hearing in Manhattan on Friday afternoon, after accusing him of tampering with witnesses, the article said.
Specifically, SBF allegedly leaked documents to discredit Caroline Ellison, the ex-CEO of FTX’s failed sister firm Alameda Research who has been cooperating with government since December. She is expected to be a key witness for the prosecution.
