• Former FTX CEO Sam Bankman-Fried seeks an exemption from court-mandated security checks for close friends visiting his parents’ home.
• Bankman-Fried is facing multiple criminal charges related to misappropriating FTX customer funds and alleged questionable political donations.
• He is currently under house arrest in Palo Alto, California, with location monitoring, a laptop with limited access, and a phone with no internet access.
Former FTX CEO Seeks Exemption
Former FTX CEO Sam Bankman-Fried has requested an exemption from court-mandated security checks for his close friends who wish to visit him at his parents’ home. On July 13th, Bankman-Fried’s lawyers submitted a letter to New York District Court Judge Lewis Kaplan asking for the exemption from the current bail conditions which require visitors to be screened for electronic devices and sign an electronic visitor log. The list of approved visitors remains under seal out of respect for their privacy and safety.
Current Bail Conditions
Bankman-Fried’s current bail conditions restrict him to using only a laptop approved by the court which allows him access to specific news sites and YouTube; as well as having a phone without internet access that limits its functionality to basic calls and texts. His lawyers have affirmed that those on the list are aware of these restrictions and will not share any electronic devices with him.
Charges Against Bankman-Fried
The former FTX CEO faces thirteen criminal charges related to misappropriating billions of dollars in customer funds as well as alleged questionable political donations. Initially these charges were due to be heard together on October 2nd, however they have since been split into two trials; five charges will now be heard separately on March 11th 2024.
House Arrest In Palo Alto
In December 2022 following a $250 million bond posting, Bankman-Fried was placed under house arrest in Palo Alto with location monitoring being enforced by security guards at all times. This is why he has requested an exemption from security checks for those close friends approved by the court so that they can visit him without undergoing extra scrutiny or inconvenience upon arriving at his home.
Bankman-Fried’s legal team are hoping that the request will be granted so that he can receive visits from those closest to him without any additional stress or hassle during this difficult period in his life as he awaits trial on the various criminal charges against him.