No More Surfing: Sam Bankman-Fried Agrees To Restrictive Bail Conditions In Wire Fraud And Money Laundering Case

Attorneys representing FTX founder Sam Bankman-Fried have reached a consensus on updated bail terms with U.S. prosecutors, as disclosed in legal documents filed on Monday.

District Judge Lewis Kaplan of the Southern District of New York is set to review the proposed conditions, which include providing Bankman-Fried with a new phone that lacks internet capabilities and is restricted to texting and voice calls.

Additionally, he will receive a laptop with limited features that can only access pre-approved websites.

Bankman-Fried's parents, with whom he will be staying, have agreed to prevent him from utilizing their devices and to prohibit unauthorized devices from being brought into their homes.

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These measures were initially suggested earlier this month after concerns arose that Bankman-Fried had tried to communicate with witnesses while on bail.

He has entered a not-guilty plea to allegations of wire fraud and money laundering, and his trial is scheduled for October.

Bankman-Fried was granted bail in December 2022 after his arrest, with a bond of $250 million co-signed by his parents. They offered their Palo Alto, California residence as collateral.

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