US DOJ Requests Revocation of FTX Founder SBF’s Bail

Summary: The US Department of Justice has requested that Judge Lewis Kaplan revoke SBF's bail due to allegations of attempting to influence witnesses, including sharing his ex-girlfriend's journal entries with the New York Times. SBF posted bond on December 22, 2022, but requested multiple bail adjustments.

In a letter delivered to Judge Lewis Kaplan on Friday, the US Department of Justice (DOJ) asked for SBF’s bail to be revoked. The Department of Justice claims that SBF twice made attempts to influence witnesses. Among these actions was sharing his ex-girlfriend’s private journal entries with the New York Times. These activities have brought up suspicions regarding witness interference in connection with the FTX.

Multiple Allegations

The Department of Justice claimed in the letter that SBF posted bond on December 22, 2022; however, the defendant then requested many bail adjustments. On January 15, 2023, the defendant reached out to the current General Counsel of FTX US, who may be called as a witness in the case.

Supposedly, SBF spoke with FTX’s US counsel using the encrypted messaging software Signal and email. SBF said that he hopes they can find a way to have a positive connection and would welcome the chance to do so. He inquired of the attorney about the possibility of consulting one another or, at the very least, running ideas by one another.

The DOJ has brought attention to the fact that SBF has been utilizing Singal for obstructive motives, and the fact that it automatically deletes communications from communication channels has only served to muddy the waters of the inquiry. The court also expressed worry that the defendant would try to influence witnesses, according to the report.

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Former head of the SEC’s Internet Enforcement Division John Reed Stark has said that Judge Kaplan has many paths open to him. If he sees SBF’s behavior as an effort to bribe witnesses, he may decide to tighten up his bail terms or perhaps cancel it altogether.

He defended his claim that Judge Kaplan would have to make a tough decision. However, the court is likely to reiterate its warnings if SBF is permitted to stay free.

Pooja Bhargav