On Tuesday, the U.S. government filed a motion in a federal court in New York to impose tighter bail conditions on FTX founder Sam Bankman-Fried, citing concerns that he may tamper with evidence related to a criminal investigation.
The motion was filed by the U.S. Attorney’s Office for the Southern District of New York and seeks to modify the conditions of Bankman-Fried’s bail. The government alleges that Bankman-Fried has access to a large amount of funds and assets, which could be used to tamper with evidence or influence witnesses in the ongoing criminal investigation.
Bankman-Fried is currently free on bail after he was arrested in March on charges of wire fraud and money laundering. The charges stem from an investigation into Bankman-Fried’s involvement in a cryptocurrency scam.
The government’s motion seeks to impose tighter bail conditions on Bankman-Fried, including the requirement that he surrender all of his passports, limit his travel to the United States and its territories, and surrender any computers or other electronic devices that he may possess. The government also seeks to impose a $10 million bond on Bankman-Fried, which would be forfeited if he fails to comply with the conditions of his bail.
The motion also seeks to impose a “third-party custodian” on Bankman-Fried, who would be responsible for monitoring his compliance with the conditions of his bail. The custodian would also be responsible for ensuring that Bankman-Fried does not tamper with evidence or influence witnesses.
The government’s motion is an indication that it is taking the criminal investigation into Bankman-Fried very seriously. The government is seeking to ensure that Bankman-Fried does not have access to the funds or assets that could be used to tamper with evidence or influence witnesses in the investigation. It is also seeking to ensure that Bankman-Fried complies with the conditions of his bail and does not flee the country.