Caroline Ellison, the former CEO of Alameda, takes a plea deal in the FTX scandal – USA Herald
The SEC Accuses Sam Bankman-Fried of “Orchestrating a Massive, Years-Long Fraud” – USA Herald
Allegations of Witness Tampering bt Crypto King
Ellison and two former FTX executives, Nishad Singh, and Gary Wang, are cooperating in the case against Bankman-Fried.
Federal prosecutors claim Bankman-Fried’s leaks are an attempt to tamper with witnesses. And that there is probable cause to believe that he had engaged in such behavior multiple times since his arrest.
Judge Kaplan agreed with the prosecution and revoked the bail of the now disgraced Crypto King.
The judge’s ruling sends Bankman-Fried from his parents’ mansion to the Metropolitan Detention Center in Brooklyn, pending his trial set for October 2.
Bankman-Fried’s defense attorney, Mark Cohen, claims they will appeal the incarceration order, seeking an immediate stay.
The defense team accused prosecutors of relying on “innuendo, speculation, and scant facts” to push for Bankman-Fried’s jailing. Cohen argued that his client’s bail terms allowed media interactions, suggesting that revoking this right would infringe on Bankman-Fried’s freedom of speech.
