FTX co-founder Sam Bankman-Fried is striving for the cancellation of deposit restrictions on crypto-asset transfers-
FTX co-founder Sam Bankman-Fried is striving for the cancellation of deposit restrictions on crypto-asset transfers-
Sam Bankman-Fried, the co-founder of FTX, who had fallen out of favor, is looking for access to crypto-assets, according to a letter from his lawyer Mark Cohen, who are connected to FTX and Alameda Research. Cohen insists that the existing deposit conditions "should be abolished in connection with crypto-asset transfers".
The legal team of Bankman-Fried pleads for the cancellation of 2 deposit conditions
In a Lewis Kaplan District of New York (SDNY), Lawyer Mark Cohen explains that his team believes that Bankman-Fried's current deposit conditions are unfair and should be lifted. Bankman-Fried was accused of a federal jury of the federal government in Manhattan and is faced with eight charges, including transfer fraud, conspiracy to commit goods fraud, conspiracy to commit securities fraud, money laundering, conspiracy to cheat the Federal Election Commission and violations of campaign financing.
The former FTX CEO was released against the deposit, and the judge of the court, Kaplan, imposed on Bankman-Fried certain deposit restrictions. The accused was, for example, Brought in California with a state -monitored ankle bracelet. Cohen, a top-class lawyer who represented In her recent case, Ghislaine Maxwell calls for sex trade that "two additives" will be deleted from Bankman-Fried's deposit conditions. The first thing is that Bankman-Fried is currently prohibited to speak to him Caroline Ellison Gary Wang, Nishad Singh Two edited witnesses and George Lernner (Bankman-Frieds Therapist).
Cohen emphasizes that the deposit condition is "exaggerated" and Bankman-Frieds intentions to contact these people, attempts to "offer help with FTX bankruptcy proceedings". The lawyer notes that this type of communication "does not reflect misconduct". Cohen gives an example and explains that the government's deposit requirement means that “Bankman-Fried could not speak to his therapist without the participation of his lawyers, who is a former FTX employee.”
While the government has expressed concerns about Bankman-Fried's use of signal and "other epphemere messaging applications", Bankman-Fried's legal team believes that the concerns are unfounded. "The deposit proposed by the government regarding short-lived messaging applications should not be imposed," says Cohen's letter to judge Kaplan.
SBF is looking for access to crypto-assets associated with FTX and Alameda Research
In addition, Bankman-Fried is trying to access certain crypto-assets in connection with FTX and the quantitative trading company Alameda Research. "[Bankman-Fried IS] It is forbidden to access or transfer them to assets or cryptocurrencies from FTX or Alameda, including assets or cryptocurrencies bought with funds from FTX or Alameda," says the deposit conditions.
The legal representation of Bankman-Fried urges the judge to drop the deposit because the team believes that the requirements are unjustified. The justification of the government was underpinned by the recent transfers from FTX and Alameda-bound funds, explained Cohen in the letter. However, Bankman-Fried "repeatedly contested any participation in the transfers" and contacted the government as soon as he had noticed the money movement. At a pre-judicial conference on January 3, 2023, the prosecutors said that they were still "examining" who was responsible for the crypto transfers.
Cohen comes to the conclusion that three weeks have passed since the conference, and the legal team assumes that the government's investigation has been proven "that it does not access these assets and has not transferred them". If the investigators have found that Bankman-Fried did not carry out transactions with the crypto-assets mentioned, then the "existing deposit condition in connection with crypto-asset transfers" should end. The lawyers of Bankman-Fried summarize the letter by emphasizing that the process firm of Bankman-Fried in view of the "only basis that was brought up for the search for this condition was not supported" is convinced by the heart that the "bast stock imposed at the conference should be canceled".
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