• SBF’s lawyers have agreed to modified bail conditions with US prosecutors. The new agreement will give the former crypto mogul a new laptop and phone with limited functions, including no access to the Internet or messaging apps.
• SBF’s parents will also take measures to restrict his access to their devices and signed sworn declarations not to bring any prohibited items into their house.
• A US District Judge must approve the amendments before they become official. SBF faces a trial at the beginning of 2021.
SBF’s New Bail Agreement
The lawyers of Sam Bankman-Fried (SBF) have reportedly reached an agreement with US prosecutors on amended bail conditions. These new conditions will give the former crypto mogul a new laptop and phone with limited functions, including no access to the Internet or messaging apps.
New Laptop & Phone
The authorities will provide SBF with a new laptop that has special monitoring software installed in order to track his user activity. He will also be given a phone that cannot connect to the Internet; he’ll only be allowed to send text messages and voice calls, while all other messaging applications are banned.
Parental Restrictions
In addition, SBF’s parents – Barbara Fried and Joseph Bankman – have agreed to restrict his access to their devices by signing sworn declarations not allowing them from bringing any prohibited items into their house. Should there be any suspicion of violated rules, law enforcement agents would then have jurisdiction over searching SBF’s phone and laptop for evidence of wrongdoings.
Judge Approval Required
US District Judge Lewis Kaplan – who is overseeing this case – must approve these amendments before they become official in order for them to take effect. Seen by many as the main cause behind FTX’s crash, SBF faces trial at the beginning of 2021 should all goes according to plan.
Final Thoughts
SBF’s revised bail agreement is seen as a step forward towards proper legal proceedings by both parties involved in this case; however it remains unclear what lies ahead for him in terms of sentencing should he indeed be found guilty during court proceedings set for next year
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