By Matthew Russell Lee, Patreon Maxwell book
SDNY COURTHOUSE, Dec 20, 2022 – Sam Bankman-Fried of FTX was indicted in the U.S. District Court for the Southern District of New York, leading to his arrest in the Bahamas on December 12.
Here is the indictment, on Inner City Press' DocumentCloud here.
Now the US Attorney's Office is said to be negotiating a bail package with SBF - this while they seek and obtain remand for low income defendants for selling crack, or even K2.
Some say the bail deal is a necessary evil, to get SBF to agree to or expedite his extradition. But what precedent does it set?
Ghislaine Maxwell was rightfully detained pending her trial. But she was found in New Hampshire. If she'd made it to the Caribbean, would she have gotten a bail package, to get her to come back?
Inner City Press will be present in the SDNY and stay on this.
At 2 pm on December 13, SDNY US Attorney Damian Williams held a press conference about the indictment, but repeatedly declined to go beyond its four corners.
Inner City Press asked US Attorney Williams about the politicians who took SBF's illegal campaign contributions, and about pending legislation which, it was said during the monrnings House Financial Services Committee hearing, is fueld by it. SDNY Facebook video here, from Min 22:27.
US Attorney Williams said as to who knew what, he would not expand beyond the indictment. And on Inner City Press' question if he'd be seeking SBF's pre-trial detention, he said he wouldn't answer, noting that SBF is in the Bahamas. But not for long? More on Patreon here.
The indictment was unsealed by Magistrate Judge James L. Cott on December 13 (though when Inner City Press tried the door to the Mag Court at 9:20 am, it was locked). Judge Cott's order on Patreon here.
Judge Cott must has used the "wheel," and the case was assigned to District Judge Ronnie Abrams.
On the civil cases, the SEC case went to Judge P. Kevin Castel; the CFTC case was then consolidated as "possibly related." On December 14 Judge Castel ordered: "Initial Conference set for 2/15/2023 at 12:00 PM before Judge P. Kevin Castel. (Signed by Judge P. Kevin Castel on 12/14/2022)." That is, after the current Bahamas detention (or extradition) date. Watch this site.
The SEC case is Securities and Exchange Commission v. Bankman-Fried, 22-cv-10501 (Castel)
In the run-up, we noted that SBF's "effective altruism" made in-road into the United Nations, always eager for bribe money as shown in the SDNY prosecutions of Ng Lap Seng and Patrick Ho of CEFC China Energy.
At the UN, it was also known as "longtermism," ironic given the support by UNSG Antonio Guterres of long time dictators like Paul Biya of Cameroon.
It is also worth noting that the SDNY prosecutors earlier this month unsealed their indictment of crypto-fraud OneCoin's Frank Schneider, but he has yet to be extradited. How long will it take for SBF? Inner City Press is on it - watch this site
The case us US v. Bankman-Fried, 22-cr-673 (Abrams).
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