The lawyers of Sam Bankman-Fried (SBF) have reportedly shaken hands with US prosecutors on amended bail conditions.
The authorities will give the former crypto mogul a new phone with no Internet capability and prohibit him from using online messaging applications.
- A recent Reuters coverage informed that SBF’s attorneys and American prosecutors involved in his case had revised his bail agreement.
- The former CEO of FTX will have a new laptop with limited functions. It will track his user activity via specially integrated monitoring software.
- SBF’s communications will also be limited by giving him a phone that cannot be connected to the Internet. He will only be allowed to send text messages and voice calls, with all other messaging apps banned.
- Bankman-Fried’s parents – Barbara Fried and Joseph Bankman – agreed to restrict his access to their devices and signed sworn declarations not to bring any prohibited items into their house.
- In case of any suspicion of violating the rules, law enforcement agents will have jurisdiction to search SBF’s phone and laptop.
- US District Judge Lewis Kaplan – the magistrate overseeing the case against the 31-year-old American – must approve the amendments before they become official.
- Seen by many as the main culprit behind the FTX crash, SBF faces a trial at the beginning of October which will determine whether he had any role in the event and the consecutive multi-billion investor losses.
- He spent a brief time in a Bahamian jail at the end of last year and was later deported to his homeland. Instead of going to federal prison, the US authorities allowed him to live at his parents’ home until the trial date under a whopping $250 million bond.
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