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Sam Bankman-Fried is being sent to jail after a judge revoked his bail over alleged witness tampering

Chris Panella,Aaron MokAug 12, 2023, 03:13 IST

Business Insider

FTX founder Sam Bankman-FriedEd Jones/Getty Images

FTX founder Sam Bankman-Fried had his bail revoked on Friday over alleged witness tampering.
Bankman-Fried was previously released on $250 million bond in December.

Sam Bankman-Fried had his bail revoked by a federal judge on Friday over his alleged tampering with witnesses in his fraud case.

He'll now have to report to jail.

US District Judge Lewis A. Kaplan said the embattled crypto tycoon who co-founded FTX could no longer be held under house arrest at his parent's home.

"Nonviolent witness tampering and obstruction poses a danger to the community and the risk of such activities would support pretrial detention," Judge Kaplan said at a hearing on Friday, according to Courthouse News' Josh Russell.

Bankman-Fried's bail entailed a $250

This is a developing story. Please check back for updates.