SBF reportedly files new bail application in the Bahamas Supreme Court

Sam Bankman-Fried, the jailed founding father of bankrupt cryptocurrency change FTX has reportedly filed a new application for bail in the Bahamas Supreme Court following his earlier unsuccessful bail bid.

Local media on Dec. 15 reported the founder submitted the application and that it could be heard earlier than the court docket in simply over one month’s time on Jan. 17, 2023. However it didn’t cite any sources.

Previously, on Dec. 13, Bankman-Fried’s attorneys had argued for him to be set free on bail set at $250,000 as he had no prior convictions and was affected by melancholy and insomnia. The presiding choose denied bail calling the crypto government a flight danger.

Bankman-Fried is remanded at Fox Hill Prison, the solely jail in the Bahamas. A 2021 United States State Department report stated situations at Fox Hill have been “harsh” and overcrowded with poor medical care, sanitation and vitamin. Correctional officers have been alleged to bodily abuse detainees.

Related: FTX Bahamas co-CEO Ryan Salame blew the whistle on FTX and Sam Bankman-Fried

Extradition to the U.S. is on the playing cards as the Bahamian authorities has stated it would “promptly” course of any extradition request as the change founder faces eight costs together with cash laundering, wire fraud, and securities fraud.

The slew of costs might see Bankman-Fried land in jail for 115 years, however authorized commentators have instructed Cointelegraph there’s a “lot to play out” saying the case might take years till it is resolved.