DOJ Targets FTX Founder Sam Bankman-Fried in Bail, Witness Contact Investigation

January 28, 2023

Sam Bankman-Fried, the founder of the cryptocurrency exchange FTX, is facing harsh criticism from prosecutors after objecting to tighter bail conditions. According to prosecutors, Bankman-Fried was “sandbagged” by the court’s decision.

The Department of Justice (DOJ) has now taken it a step further, seeking to ban Bankman-Fried from contacting any FTX employees. The DOJ alleges that Bankman-Fried attempted to influence a witness through Signal, a messaging app.

Bankman-Fried’s mother, Caroline Ellison, has also come under scrutiny. Lawyers allege that she is not cooperating with a bankruptcy probe.

Furthermore, the government has accused Bankman-Fried of trying to contact potential witnesses. This is in violation of the terms of his bail.

The case has been a source of controversy in the cryptocurrency industry, with many arguing that Bankman-Fried is being treated unfairly. It remains to be seen how the case will unfold.

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