SBF Files For New Bail Application

December 16, 2022

Story- Divya Sinha

As per the Reuters report, a source with familiar matter said that Sam Bankman-Fried, former FTX CEO has filed a bail request before the Supreme Court of the Bahamas.

This comes after, SBF’s bail was denied by the Bahamian judge on Tuesday.

The US government has charged him with eight criminal violations from wire fraud to money laundering to conspiracy to commit fraud.

The request for bail was made on Thursday, said a source who requested anonymity.

Also, Bahamas broadcaster Eyewitness News on Thursday reported that the Supreme Court would hear the bail application on January 17, without citing sources.

FTX mentioned in its bankruptcy filing that the exchange faced a severe liquidity crisis that necessitated the filing of these cases on an emergency basis.

US prosecutors say SBF was involved in a scheme to defraud FTX customers.