The cryptocurrency executive was living with his parents in California.
Disgraced FTX founder Sam Bankman-Fried has had his bail revoked and he has been immediately remanded to custody of the U.S. Marshals.
Judge Lewis A. Kaplan made the ruling during a hearing Friday in U.S. District Court in New York City.
Federal prosecutors argued in a recent court filing that Bankman-Fried deserves to have his bail revoked and to be detained before he is tried for fraud and conspiracy charges stemming from the collapse of FTX.
Former FTX CEO Sam Bankman-Fried arrives for a bail hearing at Manhattan Federal Court on Aug. 11, 2023, in New York City.
Michael M. Santiago/Getty Images
Prosecutors balked at Bankman-Fried sharing with The New York Times excerpts from the personal documents of Caroline Ellison, Bankman-Fried’s former girlfriend, who led his Alameda Research hedge fund and who has pleaded guilty and agreed to cooperate.
Bankman-Fried considered those private writings of Ellison “detrimental to her” and accused him of sharing them with the newspaper “in order to affect the public’s perception of her,” prosecutors said.
Bankman-Fried pleaded not guilty to 13 charges, including fraud, conspiracy and bribery, after federal prosecutors said he misappropriated billions of dollars from FTX before it went bankrupt. Prosecutors allege he used the money to cover losses at his hedge fund, Alameda Research, to buy lavish real estate and to make political donations.
The 31-year-old was initially released in December 2022 on a $250 million personal recognizance bond signed by his parents and secured by their Palo Alto, California, home. A prosecutor called it the largest pretrial bond ever.
ABC News’ Aaron Katersky contributed to this report.
This is a developing story. Please check back for updates.
