National

Former FTX CEO Back in Court

NASSAU, BAHAMAS – Former FTX CEO Sam Bankman-Fried still behind bars after appearing in the Magistrates’ Court in what seemed to be a surprise to all parties involved.

Published

2 years ago

December 19, 2022

Marlena Leonard

NASSAU, BAHAMAS – Former FTX CEO Sam Bankman-Fried is still behind bars tonight. This after appearing in the Magistrates’ Court in what seemed to be a surprise to all the parties involved.

On multiple occasions during the first session, both Magistrate Shaka Serville and Deputy Director of Legal Affairs, Franklin Williams KC asked for clarification on the purpose of the hearing. After Bankman-Fried’s counsel, Jerone Roberts almost immediately asked to speak in Serville’s chambers.

Shortly before entering the courtroom, there were questions over the whereabouts of Bankman-Fried’s lawyer.

We would later hear Roberts explain that he was delayed because he was unaware of the hearing. In fact, he says he was on his way to where he thought Bankman-Fried would be, at The Bahamas Department of Corrections. Roberts argued that it felt like things “may be moving prematurely” and without him.

After another adjournment, questions arose about the purpose of the session, identifying who had driven the hearing, and who summoned Bankman-Fried.

The confusion as to who summoned the defendant to court grew as the deputy director of legal affairs rebutted that neither the Bahamian or American governments had requested Bankman-Fried’s presence, calling Roberts’ claims of ignorance, “incredible”.
He added that the counsel who called him on behalf of Bankman-Fried over the weekend to discuss his client’s wishes. Was the same counsel seated alongside Roberts the week before.

Williams also told the court that it was only after Roberts visited his client on Saturday that the story of Bankman-Fried’s desire to wave his extradition began showing up in the press. But, Roberts aggressively refuted the insinuation and declared he has had no contact with the media.

Eventually, the focus shifted back to Roberts’ request for Bankman-Fried and himself to see the entire indictment, as opposed to extracts. Suggesting its importance in connection to Article 14 “The Rule of Speciality” as referenced in our extradition treaty with the United States.

A frustrated Williams asked whether or not it would be safe to call the day a wash.

Shortly after, Roberts asked for the court to be cleared again, this time so Bankman-Fried could confer with his American counsel, as Roberts said things are further ahead in the US.

Now, almost two hours into the day with no clear trajectory in sight, Williams called it a play written and unfolding by Roberts, one which he had no interest taking part in.
Roberts agreed that it was a play, but argued he was not the writer.

In the end, Serville addressed Bankman-Fried directly. The former CEO stood, fidgeting, and struggling to maintain eye contact, and had to be corrected by an officer of the court.

Serville said he was shocked in the courtroom, but said that as long as the officer in charge of the Cellblock Bay at the Magistrates’ Court authorized it, Bankman-Fried could have the phone call facilitated by Roberts, in the courtroom.

Court was adjourned at 12:15PM. Serville remanded Bankman-Fried back to BDOCS pursuant to last week’s ruling, and by 12:49PM, the former FTX CEO was on his way back to the corrections center.