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FTX’s Sam Bankman-Fried loses bid for release ahead of trial

FTX Sam Bankman-Fried Lewis Kaplan Caroline Ellison Alameda Research United States

FTX founder Sam Bankman-Fried is scheduled to go on trial in October [File: Seth Wenig/AP]

FTX founder Sam Bankman-Fried has been denied a bid for pretrial release ahead of his trial in the United States on fraud charges stemming from the implosion of his cryptocurrency empire.

Bankman-Fried’s lawyers had argued that conditions at Brooklyn’s Metropolitan Detention Center had prevented him from preparing an adequate defence ahead of his October 3 trial.

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