A federal presiding judge reportedly ruled on a verbal argument that Rob Bankman-Fried, a former FTXCEO, should be allowed to use some instant messaging.
Judge Lewis Kaplan of the Southern District Court of New York City upheld her decision to restrict Bankman-Fry 's use of encrypted communications apps as a prerequisite for release on bail of $250 million, the Associated Press reported on Feb. 9. The presiding judge ordered SBF not to communicate applications such as Signal on Feb. 1, but the former CEO legal team inspector had already negotiated an agreement to allow exceptions, including Facebook Messenger, Zoom and FaceTime.
Judge Kaplan reportedly showed that he was much more enthusiastic about SBF contacting potential witnesses in criminal cases than the convenience of [Bankman-Fried]. Court documents show that he has contacted Ryan Steiger, general counsel of the FTX United States, and Robert Ray, the current FTXCEO. According to Bloomberg News, the presiding judge indicated that Bankman-Fry is likely to be "smart enough to encrypt data without a computer", indicating that bail restrictions are necessary at this stage.
Kaplan said: "there are still turtle email and email, and there are a lot of ways to communicate, but there will not be the same risk."
Bankman-Fried appeared in court in person as part of the bail hearing system, but after he was arrested and arraigned, he was still partly confined to his parents' homes in California. It is reported that after Kaplan's decision increased the time limit for bail, its bail limit will last until February 21.
Related: * SBF lawyers take action to block the release of bail loan guarantor
The criminal trial of Bankman Fried is scheduled for October, when he faces eight judicial charges, including telecom network fraud and violation of the competitive accounting law. The United States Attorney's Office has filed a protest with the court, ordering orders to suspend civil proceedings and their studies by the Securities and Exchange Commission and the Commodity Futures Trading Federation until criminal cases are dealt with.
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