The bail conditions for the disgraced crypto tycoon have been agreed upon by Sam Bankman-defense Fried's team and the prosecutors who have been assigned to his case. While the former CEO of FTX awaits trial in the criminal action brought against him by the US Department of Justice, the modified bail conditions will be in effect.
Sam Bankman-Fried will be permitted to use a cellphone without an internet connection, according to documents submitted to the U.S. District Court for the Southern District of New York. The ousted CEO could use the phone to make phone calls and send SMS messages. SBF is prohibited from using any other types of communication tools.
Also, Bankman-Fried will have access to a laptop with restricted access, which will only allow him to see websites that have been pre-approved. SBF's activity will be monitored by software installed on the laptop. Additionally, the devices will be called for a search if there is a plausible suspicion of a violation.
Sam Bankman-Fried is permitted to stay at his Palo Alto, California, house by the prosecution. Yet his parents must consent to a number of requirements before this may happen. These restrictions include preventing him from accessing their own gadgets and from bringing unapproved devices within the house. Allegedly, all requirements have been met.
But, Judge Lewis Kaplan, who is in charge of the criminal case, must still approve the modified bail conditions. As prosecutors learned that SBF had contacted former employees to sway their testimony, calls for tighter bail conditions increased last month. SBF's house arrest could be withdrawn and he could be jailed as a result of his activities, Judge Kaplan said.