Sam Bankman-Fried denied $250K cash bail offer after begging judge to be let loose over vegan diet, ADD
Fallen FTX mogul Sam Bankman-Fried brought up his vegan diet and apparent ADD diagnosis as he begged a Bahamas judge to let him out of jail on Tuesday — with his attorney proposing a $250,000 cash bail to no avail, according to reports.
A magistrate judge in the Bahamas denied bail for the 30-year-old accused crypto crook, who lowered his head and hugged his parents, both Stanford professors, following the decision.
It came after a lengthy hearing — Bankman-Fried’s first in-person public appearance since his arrest in the Bahamas on Monday and the stunning collapse of his cryptocurrency exchange.
Wearing a blue suit and white shirt at a heavily guarded court in the capital, Nassau, Bankman-Fried quickly signaled he would not waive an extradition hearing on being sent back to the US — where he faces a slew of federal charges, including fraud and making illegal campaign contributions.
“Mr. Bankman-Fried is reviewing the charges with his legal team and considering all of his legal options,” his lawyer, Mark S. Cohen, also said in a statement.
Chief magistrate Joyann Ferguson-Pratt granted Bankman-Fried’s request to take his medication before the hearing began, according to Coindesk.
Asked if he needed a drink to take them, Bankman-Fried — who is known to take anti-depression meds via an adhesive patch — reportedly replied, “I don’t need water but I do need to take my shirt off to take them.”
His mother laughed out loud when her son was referred to as a “fugitive,” the report said.
The hearing, which started at 10:30 a.m., was delayed several times, including over legal discussion on whether the well-connected Democratic donor could get bail, Eyewitness News Bahamas said.
Prosecutors maintained that the mogul once estimated to be worth $32 billion posed a clear flight risk, the local outlet said.
Bankman-Fried’s lawyer Jerome Roberts offered up the cash bail and for his client — who has already surrendered his passport — to wear an ankle bracelet in exchange for his release, Bloomberg reported.
Ferguson-Pratt said she needed time to consider the arguments because “rushed justice is no justice at all,” and later issued her decision, remanding Bankman-Fried into custody until a Feb. 8, 2023, court date.
Legal experts say Bankman-Fried faces long odds to avoid getting returned to the US, and Bahamian Attorney General Ryan Pinder had vowed to “promptly” extradite him to stand charges.
He faces up to 115 years in prison if convicted of eight charges, including wire fraud, money laundering and campaign finance violations for his big-money political donations. He also faces separate charges from the SEC.
The hearing started some 17 hours after Bankman-Fried was busted at his exclusive resort on the island late Monday.
The fallen moneyman was supported by his parents, Stanford Law professors Joseph Bankman and Barbara Fried, at the court, which was circled by a ring of heavily armed police.
Bankman-Fried was smuggled into the court through a side door to avoid reporters who’d been assured he would be entering with others arriving from police HQ, Eyewitness News Bahamas said.
Instead, he was brought in a separate convoy with heavily armed SWAT officers, who remained on guard circling the building — and even inside up to the entrance to court No. 9, the local station said.
Even the magistrate hearing the case, Ferguson-Pratt, struggled to get in — complaining that she “had never seen such madness” at the court, the station said.
US authorities also said they will try to claw back any of Bankman-Fried’s financial gains from his alleged scheme.
Additional reporting by Evan Simko-Bednarski
With Post wires
