According to reports, Sam Bankman-Fried’s (SBF) lawyers have reached a new agreement with US prosecutors on his bail conditions.
Under the new conditions, SBF will be given a phone without Internet capabilities and will be prohibited from using online messaging applications.
- Recently reported by Reuters, SBF’s attorneys and American prosecutors involved in his case have revised his bail agreement.
- The former CEO of FTX will also be given a new laptop with limited functions, which will be monitored through specially integrated software.
- SBF’s communications will only be through text messages and voice calls on the restricted phone, with all other messaging apps being banned.
- SBF’s parents have agreed to restrict his access to their devices and have signed declarations not to bring prohibited items into their house.
- In case of any suspicion of violating the rules, law enforcement agents will have jurisdiction to search SBF’s phone and laptop.
- The amendments to the bail conditions must be approved by US District Judge Lewis Kaplan before becoming official.
- SBF is set to face trial at the beginning of October, with many viewing him as the main culprit behind the FTX crash and consecutive multi-billion investor losses.
- Instead of going to federal prison, the US authorities allowed SBF to stay at his parents’ home until the trial date under a $250 million bond, after spending a brief time in a Bahamian jail and being deported to his homeland.