Lawyers for Sam Bankman-Fried (SBF) agreed with U.S. prosecutors on new bail conditions. This is stated in court documents.
SBF will receive a phone with no internet access and a laptop with limited functionality, from which only approved websites may be visited. The use of any other electronic communications devices is prohibited.
Bankman-Fried’s parents, in whose home the founder of collapsed FTX resides, agreed to the terms. They will not allow their son to use their devices or bring forbidden equipment home. The bail conditions must be approved by the court.
The new bail terms were approved even after prosecutors suspected SBF of attempting to contact witnesses while under house arrest. He was accused of using a VPN.
In March, Damian Williams, the U.S. attorney for the Southern District of New York, submitted to the court a list of websites that SBF may visit.
In December 2022 the U.S. Department of Justice charged the head of FTX with eight criminal counts. He was arrested in the Bahamas and extradited to the United States, where he was released on bail of $250 million.
In February 2023, prosecutors increased the number of charges against Bankman-Fried to twelve. He pleaded not guilty to all counts.
Earlier, former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang pleaded guilty and agreed to cooperate with the investigation. Later, their example was followed by CTO Nishad Singh of the collapsed exchange.
Earlier, it was reported that SBF received $2.2 billion as part of payments to the inner circle of former FTX executives.