Crypto
Former FTX CEO Sam Bankman-Fried to Remain in Jail Pending Sentencing and Possible Appeal
courtesy of bitcoinist.com
Court Rejects Request for Bail
The former CEO of crypto exchange FTX, Sam Bankman-Fried (SBF), will stay in jail as he awaits his sentencing and a potential appeal. The Appellate Court has upheld the decision to revoke his bail, citing witness tampering as the reason.
Court Finds Bankman-Fried's Arguments Unpersuasive
The court based its ruling on previous findings that SBF attempted to tamper with witnesses, leading to the revocation of his bail. The belief that he could tamper with witnesses again, especially if he plans to appeal, has led to the rejection of his request for release.
Post-Trial Motions to be Filed
Bankman-Fried's lawyers were granted an extension until December 1 to file their post-trial motions, which will ask the court to reconsider the verdict. These motions will give insight into whether he plans to appeal the verdict at the appellate court.
Legal Experts Weigh In on Potential Appeal
Legal experts have speculated on the impact of a potential appeal on Bankman-Fried's sentence. While he faces a maximum sentence of 110 years, the outcome could be greatly reduced based on various factors.
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