Bankman-Fried’s Emergency Bail Application Denied

NASSAU, BAHAMAS – Lawyers for former FXT CEO Sam Bankman-Fried losing the chance to get their client bail before the end of the year.

They were denied an emergency bail application, Thursday.

His attorneys could not prove to the court their client was entitled to that emergency bail hearing. Instead, he will have to wait until January 17th for Justice Jeanine Weech-Gomez to hear that application for bail.

Today was the last day for bail hearings before the end of the year. The legal year begins on January 11.

The former FTX CEO appeared before Chief Magistrate Joyanne Ferguson-Pratt on Tuesday, after local authorities arrested him the day before.

His arrest followed notification of criminal charges filed in the United States. That filing could lead to his extradition.

Bankman-Fried did not waive his right to extradition.

U.S. authorities want him to answer charges over the collapse of FTX last month and allegations of massive fraud.

In the original arguments for bail his attorney Jerone Roberts told the court his client suffers from depression, insomnia, and attention deficit disorder, and is on medication.

In the end, the Chief Magistrate said she believes he is a flight risk and remanded the 30-year-old to the Bahamas Department of Corrections.