11 Aug 23
Sam Bankman-Fried, the founder of the collapsed cryptocurrency exchange FTX, was ordered to jail on Friday after a federal judge in New York revoked his bail, in a dramatic twist less than two months before the case was set to go to trial.
Mr. Bankman-Fried, 31, had been under house arrest at his parents’ home in Palo Alto, Calif., since he was arrested in December on fraud charges stemming from FTX’s implosion.
But at Friday’s hearing, Judge Lewis A. Kaplan of Federal District Court in Manhattan said that arrangement would have to end, after prosecutors argued that Mr. Bankman-Fried had given documents to the media to intimidate a witness in the case. ...
The courtroom scene was the latest development in one of the most stunning corporate implosions in recent memory.