Sam Bankman-Fried is being sent to jail after a judge revoked his bail over alleged witness tampering
Sam Bankman-Fried had his bail revoked by a federal judge on Friday over his alleged tampering with witnesses in his fraud case.US District Judge Lewis A. Kaplan said the embattled crypto tycoon who co-founded FTX could no longer be held under house arrest at his parent's home.
"Nonviolent witness tampering and obstruction poses a danger to the community and the risk of such activities would support pretrial detention," Judge Kaplan said at a hearing on Friday,The revocation of Bankman-Fried's bail comes months after the 31-year-old was put under house arrest at his parent's house in Palo Alto, California as of December on charges of illegally funneling millions of dollars from FTX customers' funds into his cryptocurrency trading firm, Alameda.
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