Sam Bankman-Fried, the founder and former CEO of bankrupt cryptocurrency exchange FTX, failed to convince an appeals court investigator to release him from prison.
Because of this, and while his legal team will appeal the sentence, he must remain in prison.
On November 21, the US Court of Appeals ruled that Sam Benkman-Fried’s previous attempts to interfere with the work of two witnesses in the case while on temporary release before the trial was one of the main reasons for denying his request for release.
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As previously reported by Cryptocurrency News, Sam Bankman-Fried pleaded guilty on November 2 to seven counts of fraud and money laundering, and prosecutors alleged that he stole $8 billion of FTX customer funds out of sheer greed. embezzled
In this way, the former CEO of FTX exchange will remain in prison until his sentencing on March 28 next year.
Cointelegraph
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