- SBF’s lawyers are closer to a resolution as part of satisfying the US District Judge.
- SBF’s lawyer Everdell told that a revised bail condition satisfying both SBF and the court would be presented.
- In a letter, the lawyer asked the judge to let SBF use a laptop with limited features to fetch some FTX materials.
As per the latest reports, Sam Bankman-Fried, the disgraced CEO of the beleaguered crypto exchange FTX, is closer to an agreement with the US prosecutors for a revised bail condition as a part of convincing the US District Judge Lewis Kaplan who has raised complaints against SBF’s use of technology during his confinement.
Notably, SBF’s lawyer, Christian R. Everdell, in a letter addressing the judge, asserted that SBF is “close to a resolution”, stating:
We believe we are close to a resolution and anticipate being able to present the court with a proposed order outlining these conditions by next week.
The lawyer added that Friedman and the federal prosecutors were “working diligently to agree on a set of specific bail conditions that will address the concerns expressed by the government and the court”.
Subsequent to the accusation of crypto fraud and a couple of interrogations, bail was granted for the ex-CEO of FTX under a $250 million bond, to stay under house arrest. However, the US District Judge had been enraged when it was revealed that SBF was using encrypted messaging apps and a virtual private network (VPN), hiding his network identity.
Following the crucial findings regarding SBF’s contacts with the officials of FTX and Alameda Research, Kaplan threatened him that he would proceed with further legal actions if he violate the constraints of his bail conditions.
On a March 10 hearing with Kaplan, the prosecutors put forward a request to make SBF avail with a flip-phone with no internet facilities and a laptop with limited features. However, in responding to the request, Kaplan told that as SBF is too “inventive”, he could easily “find a way around” the restrictions without being noticed.
Nonetheless, in the letter, Everdell requested the judge for his permission to permit SBF to use a laptop to access some required documents from FTX under the condition that a lawyer would monitor his activities. The lawyer added that the laptop could be taken back once he attain the materials.
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