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HomeNewsBusinessFTX-Bankman-Fried criminal case now being handled by strict judge

FTX-Bankman-Fried criminal case now being handled by strict judge

Sam Bankman-bitcoin Fried’s lawsuit has been assigned to a Manhattan federal judge who has presided over a number of high-profile cases for three decades and is known for making decisions quickly and having a no-nonsense attitude.

The United States extradited Bankman-Fried, who was detained in the Bahamas two weeks ago, last Monday to face accusations that he defrauded investors and stole customer deposits on his FTX trading platform.

Judge Lewis A. Kaplan was given the case after the initial judge withdrew because her spouse worked for a legal team that handled cases involving Bankman-defunct Fried’s cryptocurrency exchange FTX.

He was released on a $250 million personal recognisance bail on Thursday and is now living with his parents in Palo Alto, California. He was given an electronic monitoring device so that investigators could follow him about.

Since then, he has presided over a number of high-profile trials as well as a number of noteworthy financial cases, including what the authorities had dubbed the first federal case of bitcoin securities fraud. Kaplan gave the defendant an 18-month prison term.

Kaplan, 78, was appointed to the bench by President Bill Clinton in 1994 and has held senior status in the Manhattan federal court for more than ten years.

In 2014, he prohibited the use of U.S. courts to collect a $9 billion Ecuadorian judgement against Chevron for rainforest damage, claiming that the case’s attorneys had tainted an honourable endeavour with improper and unlawful behaviour.

And in 2012, he postponed accepting a Utah banker’s guilty plea by requiring the prosecution to provide a written justification for allowing the banker to plead guilty to a misdemeanour bank gaming charge rather than a felony.

Kaplan has a history of losing his cool with attorneys from all sides. He criticised the government’s immigration division, formerly known as the U.S. Immigration and Naturalization Service, for failing to move quickly enough in an asylum case in 1997.

He said, “This is about as quick as a glacier moving upward.” “The INS has in the three years I’ve been on the bench conducted itself in disastrous fashion more than once, but this one takes the cake and I’m not going to stand for it much longer,” he said, calling the agency’s actions “simply disgusting.”

He rendered a decision in the motion picture industry’s favour in 2000, providing them with the legal means to prevent DVDs from being copied on computers. The assassination of a political figure is not merely a political message, just as computer code is not purely expressive, according to him.

At the most recent case, Kaplan presided over Kevin Spacey’s autumn civil trial after a fellow actor accused him of attempting to molestation in his apartment during a party when the actor was 14 and Spacey was 26. Actor Anthony Rapp’s case against Spacey was found to be unfounded by a jury, which decided in his favour. E. Jean Carroll, a former advice columnist for Elle magazine, filed a civil lawsuit against former President Donald Trump, and Kaplan is currently presiding over it. Carroll claimed that in 1995 or 1996, Trump sexually assaulted her in the dressing room of a high-end Manhattan department store. Trump has refuted the charges. April is the date of the trial.

Before the two parties reached a settlement earlier this year, the illustrious judge was also hearing allegations of sex abuse made by an American lady against Britain’s Prince Andrew. Andrew said he never intended to disparage the woman’s character and agreed to give to the woman’s charity. Kaplan had rejected Andrew’s motion to dismiss the lawsuit prior to the settlement. After being found guilty in a college basketball scam in which a former Adidas executive and two other people paid families to influence top recruits to play for schools sponsored by the shoemaker, Kaplan sentenced three men to jail in 2019.

News Summary:

  • FTX-Bankman-Fried criminal case now being handled by strict judge
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Patrick Huston
Patrick Huston
As a senior editor, Patrick is a professional who is in charge of putting out business news. As a senior editor, Patrick is likely to be in charge of the duties of junior editors and writers, make sure the content is correct and high-quality, and work with other departments to make sure the business news is published on time. Patrick knows a lot about business and the latest market trends. He uses this knowledge to choose and edit stories that are both interesting and useful to readers. He also works with reporters and analysts to come up with insightful pieces that help readers keep up with the latest business news. Patrick is a very important part of keeping the public informed and interested in important business issues. He is passionate about journalism and strives for excellence.


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