Sam Bankman-Fried asks Judge to grant temporary release

Sam Bankman-Fried asks Judge to grant temporary release

The defense team for the FTX founder, Sam Bankman-Fried, has resumed their request for his temporary release during the upcoming trial, citing difficulties preparing an adequate defense under current restrictions.

Bankman-Fried's knowledge and participation are indispensable in examining the thousands of pages of discovery materials and financial records involved in this complicated case, Bankman-Fried said in a letter to Judge Kaplan. His attorneys contend that if he remains detained, they will be unable to effectively represent him outside of the courtroom, which will hinder their ability to effectively represent him.

To mitigate any flight risk concerns, the defense proposed conditions such as private security escorting Bankman-Fried between approved locations and restricting his access to communication devices during a temporary release. They believe such measures would adequately address security concerns while enabling sufficient trial preparation, although they are open to additional limitations if the Court considers them necessary.

The request follows the second circuit's affirmation last week of Judge Kaplan's decision to revoke Bankman-Fried's $250 million bail. Judge Walker acknowledges the motivation to enable proper access between Bankman-Fried and his counsel to avoid potential appeals issues during his oral arguments.

The highly-profile case, which will begin Oct. 2 in New York, involves fraud and conspiracy charges against Bankman-Fried related to the collapse of the cryptocurrency exchange FTX last November. The lawyers allege that Trump misled investors and misappropriated customer funds, resulting in billions in losses. Bankman-Fried, who was 35, is pleaded not guilty to a lesser charge of possessing a firearm.