SBF Lawyers Files Appeal to Prevent the Disclosure of Bail Sureties

Attorneys representing Sam Bankman-Fried (SBF), the former CEO of the defunct FTX Exchange have filed a notice of appeal concerning the unveiling of the identities of his bail guarantors. The notice stated that the identities of the two guarantors should remain undisclosed until at least February 14.

The appeal comes as a response to US District Judge Lewis Kaplan’s pending ruling. The Judge received a petition from some media organizations and the public, that the two non-parental sureties of Bankman-Fried’s $250 million bail bond be made public.

At the time of the ruling, Kaplan stated that the public’s “limited” right to know who Bankman- Fried’s guarantors were outweighed his justification for keeping their identities secret. He, therefore, stated that the names will continue to be kept under wraps until at least February 7, because of a likely appeal. 

Meanwhile, prosecutors in the US have sought permission to alter Bankman-Fried’s bail conditions. Their request is based on suspicion that Bankman-Fried is already tampering with witness testimony, as evidenced by encrypted messages sent to one of the witnesses.

The request is specifically meant to prevent the former CEO from getting in touch with his present and former coworkers at FTX and Alameda Research LLC.

SBF Wants Access to FTX’s Funds

In January, Bankman-Fried’s lawyer, Mark Cohen submitted a letter to Kaplan, demanding that he removes a bail condition that prevents him from retrieving FTX funds. Cohen argued that Bankman-Fried should be permitted access to FTX’s funds because he had not previously committed unauthorized transactions.

The request follows shortly after Bankman-Fried’s assets worth $700 million, majorly from Robinhood shares were confiscated by Federal authorities. The prosecutors claim that the former CEO used consumer funds to purchase over 55 million Robinhood shares. SBF, has, however, denied the allegations of theft of customers’ assets.

The new FTX CEO, John Ray III has also proposed other measures to ensure the continuity of the defunct exchange. He has set a deadline to claw back funds SBF contributed to political groups and charity organizations.

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