Sam Bankman-Fried’s attorneys have alleged that unknown people crashed a car at his parents’ Palo Alto home while making threatening statements. The attorneys told Judge Lewis Kaplan, who is presiding over the case, about the developments via a letter sent on Thursday.
In the letter, the attorneys claim that three unrecognized men got out of the car and harassed a security guard before they drove away. However, the date when the alleged incident occurred was not noted in the letter.
On December 22, 2022, a New York judge granted Bankman-Fried release following a record-setting bond agreement amounting to $250 million. After his release, the disgraced FTX ex-CEO began his house arrest at his parents’ home as his trial continues.
Law Firm Representing SBF in Court
Sam Bankman-Fried hired Cohen & Gresser law firm to defend him in court following the many charges leveled against him by various United States regulators in his connection to FTX’s downfall. The law firm gained popularity after defending Ghislaine Maxwell, an alleged socialite sex offender.
Moreover, the former billionaire’s parents have hired a private security company to provide 24/7 protection around the house. The New York Post reports that the cost of securing the $3.5 million house near Stanford University could go as high as $11,000 per week.
SBF Attorneys Raise Security Concerns Over His Parents and Bond Co-Signers
Before Bankman-Fried was subject to an alleged security threat, his parents also encountered a series of physical harm threats, according to a separate letter by the attorneys. Following the incident, the attorneys have fought to keep the bond co-signers names private.
Several parties have demanded the court reveal the names. But, the attorneys insist that it is more reasonable to hide the identities of the co-signers as they are also likely to face massive security concerns if disclosed.
Until its collapse, FTX was among the top centralized crypto exchanges. However, the exchange faced liquidity issues in early November 2022 as a result of missing funds which had been secretly transferred to Bankman-Fried’s trading firm, Alameda Research.
Alameda recorded multiple trade losses following the crypto market crash. As a result, both companies filed for bankruptcy in late November, and now their founder is facing several charges, including money laundering and wire fraud. He pleaded not guilty to all eight charges in early January 2023.
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