Sam Bankman-Fried's lawyers push for temporary release, object to prosecutors' proposed deal
Lawyers representing former FTX CEO Sam Bankman-Fried, or SBF, have claimed the “extraordinary accommodations” offered by authorities were insufficient in order for him to prepare for his criminal trial in October.
In an Aug. 25 filing in United States District Court for the Southern District of New York, SBF’s legal team said the plan proposed by prosecutors to allow the former FTX CEO access to discovery materials before trial were inadequate. Lawyers said the U.S. Justice Department produced roughly 4 million pages worth of discovery materials on Aug. 24 and there were “millions of pages of documents and terabytes of data” left for SBF to review for his criminal trial.
“We do not believe that anything short of temporary release will properly address these problems and safeguard Mr. Bankman-Fried’s right to participate in his own defense,” said the filing. “Before his bail was revoked, Mr. Bankman-Fried was spending 80-100 hours a week reviewing the voluminous discovery and creating detailed analyses that he could update constantly and share with his attorneys.”
Bankman-Fried had been free on a $250-million bond for roughly 8 months following his extradition from the Bahamas and arraignment in the U.S. in December 2022. However, following allegations of witness intimidation of former Alameda Research CEO Caroline Ellison, a federal judge revoked his bail. Since Aug. 11, roughly two months before the start of his first criminal trial, SBF has been remanded to the Metropolitan Detention Center in Brooklyn.
Since his bail was revoked, SBF’s legal team has been pushing for fewer restrictions allowing him time outside jail in order to prepare for trial. A judge ruled on Aug. 21 that SBF be allowed roughly seven hours in the
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