After Fraud Allegations
SBF Bail Denied
December 14, 2022 Story: Divya Sinha
Former FTX founder SBF’s bail was denied by the Bahamian judge on Tuesday.
He has been accused of embezzling billions of dollars and violating campaign laws.
Magistrate Judge Joyann Ferguson-Pratt has ordered that there be an extradition hearing to be held next February 8, 2023, at 10:00 am ET.
SBF’s attorneys initially asked the judge to consider that he be released on a $250,000 bail.
They argued that he must regularly take drugs containing Zyrtec, an over-the-counter allergy medication, and adhere to a vegan diet.
SBF wore a blue suit and no tie, bowed his head and hugged his parents as he left from court.
The judge said the risk of his disappearance was “great” and ordered him to be taken to a correctional facility in the Bahamas until Feb 8.