The former CEO of defunct crypto exchange FTX, Sam Bankman-Fried, wants his ‘close friends’ to visit him at his parents’ house without needing to pass through the security measures instituted.
These security measures stated in SBF’s bail conditions require a security officer to be present at his family home to screen visitors for electronic gadgets. Also, it will require visitors to fill out an electronic visitor log.
As stated in Bankman-Fried’s bail conditions, SBF is only allowed a finite use of personal laptops that can only visit court-approved websites, such as YouTube and some specific news sites.
Former FTX Chief Executive Wants His Close Friends to Visit Without Security Pat Downs
Advocates of FTX’s former CEO, Sam Bankman-Fried, wrote a letter to New York District Court Judge Lewis Kaplan on July 13.
The lawyers requested that the judge permit the former CEO’s ‘close friends’ on a submitted list to visit him without passing through the court-ordered security measures established in his bail conditions.
Presently, only SBF’s lawyers and the staff of his contracted law firm are exempt from the pat-downs. The lawyers have requested that the court extend the measures to pre-allowed visitors.
According to the letter, the list-which was cross-checked by prosecutors without objections – includes Bankman-Fried’s close associates, colleagues of his parents, and household help, who often visit the house.
They emphasized that the privacy and security of the individuals mentioned on the list far surpass any assumption of access to the list. Also, the lawyers promised that those listed would comply with the bail conditions set for Sam Bankman-Fried.
Sam Bankman-Fried’s Restrictions
The former FTX chief executive officer faced criminal charges for misusing billions of dollars in FTX user funds and purported political donations.
In February 2023, Sam Bankman-Fried was charged with illegally making political donations. A report from Reuters revealed that the Manhattan federal court had indicted Bankman-Fried for making over 300 illegal political donations. These donations were worth tens of millions of United States dollars.
Since being granted bail last October, the former exchange owner has lived at his parents’ Palo Alto, California home. The same house was included as collateral for his huge $250 million bail bond.
It’s worth noting that 13 criminal charges have been leveled against SBF, and a trial was to begin on October 2. However, five charges have been divided into a different trial category, set to commence on March 11, 2024.
These criminal charges, pressed by the United States Securities and Exchanges Commission (SEC) and the Commodity Futures Trading Commission (CFTC), were scheduled to commence on October 2, 2023.
It’s worth noting that Sam Bankman-Fried pleaded not guilty to any of these alleged criminal charges.