Bankman-Fried’s recently imposed provisional bail terms, which include no encrypted or ephemeral call or messaging apps, is set to be intensified.
Sam Bankman-Fried, the former CEO of FTX, may have to say goodbye to his beloved smartphone if the United States Department of Justice has its way. In a proposal submitted to District Judge Lewis Kaplan of the Southern District of New York, Bankman-Fried’s communication would be restricted to a flip phone or a non-smartphone with no internet access.
This means he’ll have to flip out his flip phone to make any calls, and forget about texting, browsing, or playing games on his phone. It’s a sad day for SBF, but it’s all part of the plan to ensure he doesn’t contact any current or former employees of FTX or Alameda Research without his counsel present.
The proposal also includes restrictions on his laptop use, with a security software that logs his online activity. Plus, he won’t be able to object to court-authorized pen registers on his phone number, Gmail account, and internet service. There are a lot of rules to follow, but when you’re out on $250 million bail, you have to play by the DOJ’s rules.
Bankman-Fried’s temporary bail conditions, which were recently imposed, include no encrypted or ephemeral call or messaging apps, VPN use, or contact with potential witnesses. He’ll only be able to visit pre-approved websites, like YouTube, Wikipedia, Etherscan, NFL, DoorDash, and Netflix.
Also, a security program that logs online activities will keep track of Bankman-Fried’s behavior on his laptop. The proposal further mentions that:
“Fifth, the defendant will not object to the installation of court-authorized pen registers on his phone number, Gmail account, and internet service. Those pen register orders will be sought by the Government and maintained by the Federal Bureau of Investigation.”
SBF’s troubles started on Feb. 9 when he was found to have contacted potential witnesses in his case. Since then, he’s been under close watch by the DOJ. On Feb. 22, a superseding indictment was unsealed, charging him with 12 criminal counts, including fraud, wire fraud, and securities fraud.
The court released a superseding indictment against Bankman-Fried on February 22, that included 12 criminal counts, eight fraud-related conspiracy charges, four wire fraud charges, and one charge each of securities fraud and fraud against the securities market.