Sam Bankman-Fried wants to get access to FTX funding

Sam Bankman-Fried should have access to corporate funds, according to his attorneys’ claims that he was not engaged in any prior illicit activities.

According to court documents dated January 28, Sam Bankman-legal Fried’s team is trying to lift a bail restriction that banned him from accessing FTX assets.

Bankman-attorney, Fried’s Mark Cohen, argued in a letter to United States District Court Judge Lewis Kaplan that his client should have access to FTX’s assets since he was not engaged in any prior improper transactions.

According to Nansen statistics released by Cointelegraph, FTX and FTX US have sought roughly $659 million in unlawful payments after the bankruptcy of the cryptocurrency exchange in November 2022. Bankman-Fried denied responsibility for the transactions.

According to the letter given to Kaplan after the first court hearing on January 3, U.S. officials asked that Bankman-Fried be “forbidden from acquiring or moving any FTX or Alameda assets or cryptocurrencies, including assets or cryptocurrency obtained with monies from FTX or Alameda.” Prosecutors at the time said there was no proof Mr Bankman-Fried had transferred money, but that a federal investigation was still ongoing.

While the defence did notify authorities “as soon as we became aware of the transfers to give notice,” about three weeks have gone since the original pretrial meeting, and “we presume that the Government’s inquiry has verified what Mr. Bankman-Fried has claimed all along,” the letter states.

Since the primary argument in favour of the bail condition presented at the meeting has been disproved, we feel that it should be lifted.

The prosecution submitted the request after Bankman-Fried reportedly attempted to “influence” the testimony of Ryne Miller, the current General Counsel of FTX US, through Signal and email on January 15.

Each of these current and former workers may possess vital information for Mr Bankman-defense. Fried’s The requirement that Mr Bankman-Fried includes counsel in every conversation with a former or present FTX employee would create an unwarranted drain on his resources and hinder his ability to defend this action.

On November 11, 2022, FTX filed for bankruptcy protection, and CEO Bankman-Fried resigned. In California, where he is out on bond, he faces eight accusations, including wire fraud and money laundering.

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