Former FTX CEO Seeks Visitor Exemption

Former FTX CEO Sam Bankman-Fried has requested an exemption for court-approved visitors from security measures at his parents’ home, according to a letter submitted by his legal team to New York District Court Judge Lewis Kaplan on July 13. The current bail conditions mandate the presence of a security guard to screen visitors for electronic devices and require visitors to sign an electronic log. Bankman-Fried’s lawyers argued that only his attorneys and employees of his contracted law firm are exempt from these checks and urged the court to extend the same privileges to court-approved visitors.

Bankman-Fried’s Bail Conditions

The submitted list, reviewed by prosecutors without objection, includes “close friends and colleagues of Mr. Bankman-Fried’s parents and household help that regularly visit the house,” as stated in the letter. The list was filed under seal to prioritize the privacy and safety of those mentioned over any presumption of access to the list.

Currently, Bankman-Fried’s bail conditions, set by Judge Kaplan, limit his access to a laptop with access only to court-approved websites and a phone with no internet access except for basic calls and texts. His legal team affirmed that individuals on the approved visitor list are aware of his bail conditions and will adhere to them, including the prohibition on sharing electronic devices with him.

Former FTX CEO wants to exempt friends from security checks - 1

Bankman-Fried’s $250M Bond

Bankman-Fried faces multiple criminal charges, including misappropriation of billions of dollars in FTX customer funds and alleged questionable political donations. The trial for the 13 charges was initially scheduled to begin on October 2, but it has been split, with five charges now set for a second trial on March 11, 2024.

In December 2022, Bankman-Fried posted a $250 million bond and was placed under house arrest in Palo Alto, California, with location monitoring. Additionally, he was required to surrender his passport. However, allegations emerged that Bankman-Fried was involved in cashing out approximately $700,000 on a cryptocurrency exchange in Seychelles shortly after his house arrest. Bankman-Fried has vehemently denied any involvement in these transactions or any others connected to him or FTX.