Pre-Trial Incarceration Continues for Sam Bankman-Fried

An appeals court has dismissed the attempt made by Sam Bankman-Fried's attorneys to secure his release before the commencement of his trial.

Sam Bankman-Fried's bid for pre-trial release was denied by an appeals court. The FTX founder had his bond revoked in August and was placed in custody due to suspicions of witness tampering, a ruling made by a judge. Earlier this month, his request to overturn this decision was also rejected. On Thursday, the appeals court upheld this decision.

The court order stated, "We reject [Bankman-Fried's] assertion that the district court did not consider an alternative to detention that would be less restrictive. The record indicates that the district court took into account all relevant factors, including the Defendant-Appellant's behavior over time, which necessitated the district court to continuously tighten the conditions of release."

Bankman-Fried's trial is scheduled to commence on October 3 in a federal courtroom located in Manhattan. He is facing charges of fraud and conspiracy related to the operations and subsequent collapse of his cryptocurrency exchange. Bankman-Fried has pleaded not guilty to all seven charges.

This decision marks the second setback for Bankman-Fried on Thursday. Judge Lewis Kaplan, who is presiding over the criminal case, granted the prosecutors' motions to reject every single one of his proposed expert witnesses.

While the defense team may attempt to present some of the witnesses again, they will have to meet specific requirements, and the U.S. Department of Justice retains the right to object.

Read more: Stanford University to Refund FTX's Donated 'Gifts': Report