Sam Bankman-Fried Agrees to Limited Bail Conditions: Judge Tightens Reins

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• Sam Bankman-Fried, founder of FTX, has agreed to new bail conditions with US prosecutors.
• The proposed conditions limit his access to technology and include a phone with no internet access, a laptop with limited functionality and no unauthorized devices in his parent’s home.
• Bankman-Fried is facing criminal charges of swiping billions of dollars in customer funds and making questionable political donations. If convicted, he could face 115 years in prison.

Sam Bankman-Fried Agrees to Limited Bail Conditions

FTX founder Sam Bankman-Fried has agreed to new bail conditions with US prosecutors that will limit his access to technology. The proposed conditions were submitted for approval to District Judge Lewis Kaplan of the Southern District of New York on March 28th.

New Bail Conditions Limit Access to Technology

Under the new terms set forth by Judge Kaplan, Bankman-Fried will be given a new phone with no internet access and limited to text messages and voice calls only. He will also be provided with a new laptop with limited functionality and can only access approved websites. His parents, who he will reside with, have agreed not to let him use their devices or bring unauthorized devices into their homes.

Criminal Charges Against Bankman-Fried Escalate

Bankman-Fried faces criminal charges of swiping billions of dollars in FTX customer funds and making questionable political donations – charges which have previously been reported by crypto news outlets. He is set to stand trial on October 2nd 2023 and if convicted could face up to 115 years imprisonment as punishment for his alleged crimes.

SBF Posts Bond & Put Under House Arrest

In December 2022, Bankman-Fried posted a $250 million bond alongside being put under house arrest with location monitoring (withdrawing his passport). However days later some sleuths allegedly spotted transactions involving him cashing out about $700,000 from a crypto exchange in Seychelles – something he denies involvement in caused Judge Kaplan not take any chances when it comes to giving him further access/control over technology at this stage of the legal proceedings against him .

Conclusion

The bail condition agreement put forth by Judge Kaplan is seen as an effort towards limiting any potential wrongdoings from SBF before his trial date set for October 2nd 2023; where if convicted he could face up to 115 years imprisonment due to the allegations against him for swiping billions of dollars in FTX customer funds & making questionable political donations amongst other accusations made against him .

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