US DOJ Blocks SBF’s Request For Temporary Release

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In a recent development, the U.S. Department of Justice (DOJ) has opposed Sam Bankman-Fried’s request for temporary release as he prepares to face his first criminal trial on October 3rd. 

Will SBF Get A Temporary Release? 

Sam Bankman-Fried, the founder of the now-bankrupt FTX crypto exchange, had sought temporary release under strict conditions, but the DOJ remains resolute in opposing this move.

His legal team had made a plea for his temporary release into their custody, with the promise that he would abide by stringent restrictions. These restrictions would have included constant surveillance outside of the courtroom and the prohibition of access to electronic devices such as laptops and phones. 

The DOJ Pushback

However, the DOJ was unwavering in its stance, pushing back on these requests.

The prosecutors were unequivocal in their response, claiming that the latest motion from the defense consists of generalized claims about unspecified efforts that his detention has curtailed. The DOJ claims, 

“The defendant’s repeated general assertions regarding the inconveniences of his detention simply do not outweigh the dangers of his release in light of the record, as affirmed by the Circuit, regarding his course of conduct over time.”

The DOJ pointed out that both the trial judge and an appeals court had previously denied requests for Bankman-Fried’s temporary release. Judge Lewis Kaplan, who presided over the case, had previously expressed skepticism about the validity of Bankman-Fried’s arguments. Notably, Judge Kaplan questioned why Bankman-Fried couldn’t complete the preparation for his defense while out on bail and why his legal team couldn’t continue their work even with him in detention.

Upcoming Trial and Legal Challenges

As the trial date approaches, Bankman-Fried’s legal woes continue to mount. His upcoming trial is riddled with challenges, including the recent decision by Judge Kaplan to side with the DOJ in barring the testimony of seven witnesses on behalf of the defendant. The judge cited various legal grounds for this decision, including the testimony’s lack of clarity, irrelevance to the case, and its potential to confuse the jury.

Furthermore, Bankman-Fried’s legal team failed in their attempt to exclude testimony from Peter Easton, a University of Notre Dame accountancy professor who is set to speak on FTX customer fiat accounts.

SBF’s Requests For Upcoming Trial

Sam Bankman-Fried’s quest for temporary release amidst the impending trial has hit a roadblock, with the DOJ and the courts steadfastly opposing his requests. He has placed several other requests related to his trial, like his appeal for formalwear outfits for his court appearance. 

The court has already granted his request to use an air-gapped laptop (with no internet access) to take notes during his trial.

With the trial date just around the corner, the founder of the defunct FTX crypto exchange faces an uphill battle in defending himself against the charges brought against him.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.