FTX Founder Sam Bankman-Fried Sent to Jail After Bail Revoked

Sam Bankman-Fried, who was arrested on fraud charges last year after the collapse of his cryptocurrency firm, must await trial behind bars, a US judge has ordered.

Judge Lewis Kaplan had agreed with prosecutors who had accused Mr Bankman-Fried of trying to influence witnesses expected to testify against him.

He had denied the claims.

Speaking in court on Friday, Judge Kaplan said: "There is probable cause to believe that the defendant has attempted to tamper with witnesses at least twice."

The hearing on whether to revoke Mr Bankman-Fried's bail came ahead of trial, which is scheduled for October.

The 31-year-old was arrested in December after being accused of misusing money from investors and customers of his bankrupt cryptocurrency exchange FTX to pay for property, political donations and plug losses at his hedge fund, Alameda Research.

The former billionaire denied the claims and was released to his parents' home in Palo Alto, California on a $250m (£197m) bond.

The court had already moved to tighten restrictions faced by Mr Bankman-Fried earlier this year, citing his efforts to contact people involved in the case and his use of a virtual private network.

The latest request from prosecutors was sparked by a July article in the New York Times, which quoted confessional writings by Caroline Ellison, Mr Bankman-Fried's sometime girlfriend and the former chief executive of Alameda.

In the article, Ms Ellison, who pleaded guilty to fraud last year and is expected to testify against Mr Bankman-Fried, was quoted reflecting on their break-up and how she felt "overwhelmed" at work.

(Source: BBC)