<![CDATA[<figure class="image"><img src="https://cimg.co/news/124809/329680/sam-bankman-fried.jpeg" srcset="https://cimg.co/news/124809/329680/responsive-images/sam-bankman-fried___media_library_original_3510_1921.jpeg 3510w, https://cimg.co/news/124809/329680/responsive-images/sam-bankman-fried___media_library_original_1200_657.jpeg 1200w, https://cimg.co/news/124809/329680/responsive-images/sam-bankman-fried___media_library_original_900_493.jpeg 900w, https://cimg.co/news/124809/329680/responsive-images/sam-bankman-fried___media_library_original_720_394.jpeg 720w, https://cimg.co/news/124809/329680/responsive-images/sam-bankman-fried___media_library_original_600_328.jpeg 600w, https://cimg.co/news/124809/329680/responsive-images/sam-bankman-fried___media_library_original_300_164.jpeg 300w" width="3510" class="content-img" alt=""><figcaption>Source: a video screenshot, ABC News / YouTube</figcaption></figure>SDNY Judge Lewis Kaplan has rejected a plea from Sam Bankman-Fried's legal team to release the FTX founder before his upcoming trial to better prepare for the legal proceedings.The decision was grounded in several key arguments presented by Judge Kaplan in a <a href="https://storage.courtlistener.com/recap/gov.uscourts.nysd.590939/gov.uscourts.nysd.590939.278.0.pdf">three-page memo</a> on Tuesday pertaining to the multi-faceted fraud case.For one, Bankman-Fried has already been granted a substantial amount of time to review case materials electronically since being indicted on December 9, 2022.Defendants had earlier <a href="https://cryptonews.com/news/sam-bankman-frieds-legal-team-seeks-pre-trial-release-due-to-poor-prison-internet.htm">claimed</a> that the founder wasn&rsquo;t being granted ample time or internet access to review case materials during his last month in prison, as promised. According to the DOJ, Bankman-Fried is supposed to be <a href="https://cryptonews.com/news/doj-claims-sam-bankman-fried-has-sufficient-access-to-laptop-in-response-to-jail-release-request.htm">given</a> several hours per day to review case materials through an air-gapped, internet-connected laptop.&ldquo;He faced no such impediments during the roughly 7-&frac12; months between his presentment to this court and the revocation of his bail,&rdquo; wrote the judge.Bankman-Fried's bail was revoked in August due to allegations of witness tampering. Accusations of leaking the <a href="https://cryptonews.com/news/prosecutions-strategy-caroline-ellisons-personal-notes-to-serve-as-key-evidence-against-former-ftx-ceo-sam-bankman-fried-1.htm">diary of Caroline Ellison</a>, the former CEO of FTX sister firm Alameda Research and Bankman-Fried's former girlfriend, to the New York Times.As a result, Bankman-Fried, who faces multiple charges including wire fraud, lender fraud, and securities fraud, exchanged his parents' home in Palo Alto for detention at the Metropolitan Detention Center in Brooklyn.<h2 id="more-than-enough-lawyers">More Than Enough Lawyers</h2>Judge Kaplan added that Bankman-Fried&rsquo;s personal entitlement to review all case discovery materials, generate unspecified work product, and more, was flawed. &ldquo;Defendants is represented by a substantial team of extremely able retained lawyers,&rdquo; he wrote, noting that Bankman-Fried plans to call at least seven expert witnesses to the stand during the trial.Judge Kaplan added that the denial for release "does not foreclose a further application on a more factually grounded and persuasive showing." The trial is scheduled to commence on October 3, with jury selection currently underway.FTX, the cryptocurrency exchange founded by Sam Bankman-Fried, was once valued at an impressive $32 billion.Since the exchange&rsquo;s collapse in November 2022, four former executives close to Bankman-Fried have pled guilty to various forms of fraud in connection with their ex-boss. Among them are Caroline Ellison, Ryan Salame, FTX co-founder Gary Wang, and engineering head Nishad Singh.FTX&rsquo;s bankruptcy team is now considering plans to <a href="https://cryptonews.com/news/ftx-unveils-reboot-plan-for-new-offshore-exchange-under-new-leadership.htm">relaunch</a> the exchange, presenting creditors with an option to hold equity securities, tokens, or other interests in the newly launched firm.&nbsp; &nbsp;
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Judge Lewis Kaplan Rejects Sam Bankman-Fried's Pre-Trial Release Plea – Here's the Latest

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