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The Independent UK
The Independent UK
Graeme Massie

Sam Bankman-Fried claims car threatening him crashed into parents’ home

Copyright 2023 The Associated Press. All rights reserved.

A car smashed into a metal barricade outside the California home of embattled FTX founder Sam Bankman-Fried, according to his lawyers.

In a court filing, lawyers for the under-house-arrest executive told Manhattan federal court that the incident is an example of the security issues he faces.

The unidentified men drove into the barrier outside the Palo Alto home of Mr Bankman-Fried’s parents and told a security guard, “You won’t be able to keep us out.” The men then reportedly jumped back into the vehicle and drove off.

Mr Bankman-Fried, 30, is under house arrest after he agreed to be extradited from the Bahamas following his arrest on fraud and conspiracy charges.

New York prosecutors allege that he stole billions of dollars from FTX to cover losses at his hedge fund.

The latest filing was made in response to media filings for a judge to make public who, along with his parents, has put up the $250m bail money to keep him out of prison.

Media organisations have argued that the public’s right to know the identities of the guarantors outweighs privacy and safety rights.

But his lawyers told the court that the media was ignoring the safety of those individuals.

“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 face significant privacy and safety concerns if their identities are disclosed,” Mark Cohen and Christian Everdell wrote in a letter to US District Judge Lewis Kaplan.

Both individuals have been interviewed and approved by prosecutors and posted bonds of $500,000 and $200,000, which they will lose if the suspect fails to return to court.

Mr Bankman-Fried has pleaded not guilty in court and earlier this month reiterated his denial he stole funds from FTX customers.

“I didn’t steal funds, and I certainly didn’t stash billions away,” Mr Bankman-Fried wrote in a blog published on Substack.

Reuters contributed to this story

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