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Sam Bankman-Fried, who is currently out on bail, is now subject to surveillance software installed on his parents' cell phones.
The software will monitor all activity on the devices, including keystrokes, unauthorized app installations, internet browsing history, iMessage, voice calls, and FaceTime. To ensure Bankman-Fried adheres to his bail terms, a technical consultant will inspect the keystroke logs and screenshots on his parents' phones at least thrice weekly.
Bankman-Fried's lawyers had initially suggested a photo-taking software but later found a different surveillance software that could log keystrokes. They had requested an extension for the enforcement of the revised bail conditions, citing difficulties in finding the required software for his parents' phones. The request was approved by U.S. District Judge Lewis Kaplan.
The judge had previously expressed concerns over Bankman-Fried's access to electronic devices at his parents' home and warned of "probable cause" for attempted witness tampering. In addition, Bankman-Fried faced a temporary prohibition from utilizing smartphones, tablets, computers, and any video game gadgets that permit chat and voice communication, after being accused of using a VPN, which he denied.
During March, Bankman-Fried's parents consented to restrict his usage of their devices and provided written affidavits confirming they would not bring any prohibited electronic devices into their household.
The Collapse of FTX and SBF’s Court Trials
Bankman-Fried, founder of Alameda Research and FTX crypto exchange, rose to fame and fortune in the crypto industry. However, FTX's shaky financial foundation was exposed when a balance sheet was leaked, triggering a bank run and outflows that FTX couldn't cover. The $32-billion empire vanished overnight, leaving Bankman-Fried's personal fortune and reputation in shambles.
He now faces 13 felony charges by the Department of Justice, with investigations ongoing. While some bizarre details have emerged in court filings, important questions remain unanswered about the collapse.