{"id":370599,"date":"2023-01-20T19:40:07","date_gmt":"2023-01-21T00:40:07","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=370599"},"modified":"2023-01-20T19:40:07","modified_gmt":"2023-01-21T00:40:07","slug":"lawyers-assert-that-sam-bankman-fried-faced-a-security-threat-at-his-parents-house","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/lawyers-assert-that-sam-bankman-fried-faced-a-security-threat-at-his-parents-house","title":{"rendered":"Lawyers assert that Sam Bankman-Fried faced a security threat at his parents’ house"},"content":{"rendered":"

This week, the collapse of FTX allegedly took a hazardous turn when Sam Bankman-Fried<\/a>‘s counsel asserted that a motorist rammed a car into the barricade at his parents’ house and that the people inside the car shouted ominous threats.<\/p>\n

In a letter delivered on Thursday to U.S. Federal Judge Lewis Kaplan by Bankman-Fried’s counsel, it is claimed that a black car recently collided with a metal barricade outside the Palo Alto, California, residence where he is currently under house arrest.<\/p>\n

You won’t be able to keep us out.<\/p><\/blockquote>\n

“You won’t be able to keep us out,” three unidentified men allegedly said to a security guard after getting out of the car and leaving. The letter omitted mentioning the claimed incident’s date.<\/p>\n

On December 22, a New York judge ordered Bankman-Fried, who had been detained after being arrested in the Bahamas and extradited to the US the week before, to be freed from detention under a $250 million bond deal. The former CEO of FTX moved to his parents’ house in Northern California<\/a> and is still being held there while his trial is being held.<\/p>\n

After FTX’s collapse in November, the disgraced crypto<\/a> tycoon hired the law firm Cohen & Gresser to represent him in any legal proceedings brought by the US Department of Justice. Ghislaine Maxwell, a former employee of Jeffrey Epstein, was previously defended by Mark Cohen, who co-wrote the letter with fellow attorney Christian Everdell.<\/p>\n

Expensive living arrangements<\/h2>\n

The 3,000 square foot house near Stanford University, which is thought to be worth between $3 million and $4 million, reportedly costs about $10,000 per week to secure, according to the New York Post. Apparently, Bankman-Fried’s parents\u00a0 engaged a private security company to provide round-the-clock security.<\/p>\n

Other than his parents, his lawyers have battled to keep the identity of the bond co-signers secret out of security reasons. The lawyers stated that his parents had received a “constant stream” of threatening letters, some of which threatened physical damage, in a different letter to Judge Kaplan. The court has been asked by several publications to divulge the names.<\/p>\n

Bankman-Fried’s attorney stated that:<\/p>\n

Given the notoriety of this case and the extraordinary media attention it is receiving, it is reasonable to assume that the non-parent sureties will also face significant privacy and safety concerns if their identities are disclosed.<\/p><\/blockquote>\n

FTX<\/a> was one of the most well-known cryptocurrency exchanges in the world up to the beginning of November, when it encountered a liquidity difficulty, reportedly brought on by missing funds associated with trading losses incurred by its sister company, Alameda Research. Both businesses soon after filed for bankruptcy.<\/p>\n

The Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission have also filed accusations<\/a> against Bankman-Fried, totaling eight counts of fraud and conspiracy (CFTC). Earlier this month, he entered a not-guilty plea to the DoJ allegations.<\/p>\n

Related<\/h3>\n