SBF Cut Off From His Favorite Toys Under New Proposed Bail Conditions
The judge in FTX co-founder Sam Bankman-Fried’s ongoing fraud case previously suggested the best way to stop the defendant from accessing the internet was to throw him in jail.
Former CEO of failed crypto exchange FTX Sam Bankman-Fried was already ordered to live every millennial’s nightmare and move back in with his parents. Now, prosecutors have laid out how SBF is being grounded, curtailing his ability to access the internet or even play any online video games.
Bankman-Fried, who commonly goes by “SBF” online, is awaiting trial regarding 12 fraud, conspiracy, and campaign finance charges regarding his time heading the now-bankrupt FTX. According to the new bail conditions outlined by prosecutors Monday, Bankman-Fried is being restricted from accessing the internet with his phone, on a computer, or on his parents’ devices. Instead, the court ordered that he use a non-smartphone provided by the court with no internet capability. The court is also restricting him to a laptop with a limited software suite that can only access “pre-approved” websites. He’s also not allowed on any video game that would allow him to use voice chat, so no more League of Legends for him.
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All of Bankman-Fried’s activity on the laptop will be monitored, according to the new bail conditions. For the purposes of keeping up with his case, he’s still allowed to access all “.gov” websites, as well as YouTube and Wikipedia. He’s also still allowed to track crypto using multiple blockchain explorers like Etherscan.io and Coingecko, and he can access most mainstream news sites as well as make orders using DoorDash and Uber Eats. FTX was known for racking up a big DoorDash bill during his tenure, so his parents may also need to cut back on excessive meal deliveries.
Judge Lewis Kaplan and federal prosecutors had previously shared their concerns that Bankman-Fried was potentially communicating with people involved in the case, even potential witnesses, through the internet and with a VPN. The former crypto king’s lawyers were adamant that Bankman-Fried had only used a VPN to access an old NFL streaming subscription, though that wasn’t enough to mollify the U.S. attorneys. Now he’s only allowed to use a VPN to access the FTX transactional database, which is referred to in the bail conditions as the “Amazon Web Services database.”
More than that, he’s even being barred from letting any visitors into his home carrying any devices with access to the internet. Anybody who wants to come see the ex-crypto golden boy will need to have a security guard present who will screen for any cell phones or electronic devices. His parents’ devices are also off limits. Joseph Bankman and Barbara Fried, two Stanford University professors, both signed sworn affidavits to not bring any unauthorized devices into their home.
Bankman-Fried’s lawyers and parents have already signed off on the new restrictions, though it still awaits Judge Kaplan’s signature. Kaplan had previously suggested the best way to stop the former FTX exec from violating the bail conditions was to throw him in jail.
SBF is awaiting trial scheduled for later this year, though his attorneys have asked the court to delay the proceedings so they could review more documentation from several of the other ex-FTX execs who have already pleaded guilty to similar fraud charges.
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