SBF’s lawyers ask for another extension to comply with new bail conditions SBF’s lawyers ask for another extension to comply with new bail conditions
SBF's lawyers said they need more time to meet the bail terms that require installation of monitoring software on his parents' devices.
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Updated: Jul. 18, 2023 at 2:33 am UTC
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Lawyers of FTX founder Sam Bankman-Fried (SBF) have filed for a second extension to comply with the new bail conditions on April 11.
SBF’s bail conditions were set in December 2022 but modified twice in January and twice in February.
In March, his bail conditions were updated again, requiring that SBF’s parents ensure that he will have no access to their laptops, desktop, and mobile phones. The court also ordered the installation of monitoring software on the parents’ devices that would automatically take pictures of the user every five minutes.
In the extension filing, SBF’s lawyers stated they received new phones with monitoring software installed per the court order. However, the monitoring software does not automatically photograph the devices’ users as the bail conditions require.
Therefore, the lawyers asked for a one-week extension to find a different monitoring software to fulfill the bail conditions. SBF’s lawyers had previously asked for an extension on April 4.
New bail conditions
In March, federal judge Lewis Kaplan thought SBF’s bail conditions were too lenient and expressed concerns about his access to technology and communication devices. The judge then denied the bail conditions agreed to by SBF’s lawyers and the prosecution.
Subsequently, on March 28, the judge set new bail conditions which required SBF to only use a flip phone with no internet access and a laptop with limited functionality. SBF is allowed only to visit approved websites using the laptop, loaded with monitoring software that logs all activity per the new bail terms.
The conditions also required SBF to surrender all electronic devices as soon as he received the new court-approved phone and laptop. He was also prohibited from using any devices belonging to any third party, including his parents.
Furthermore, to ensure SBF never used his parents’ devices, they are supposed to be password protected and have monitoring software, according to the court order.
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FTX
FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.
Sam Bankman-Fried is the former CEO, and co-founder of defunct crypto exchange FTX and Alameda Research.