The defense attorney representing FTX founder Sam Bankman-Fried claimed on Tuesday that his client, currently in a Brooklyn jail, is struggling to adequately prepare for trial and is subsisting on a diet of bread, water, and peanut butter.
Bankman-Fried appeared in federal court on Tuesday and pleaded not guilty to seven charges in a new indictment, including wire fraud, securities fraud, defrauding lenders, and several conspiracy counts. His trial is set to begin in October.
This was Bankman-Fried’s first public appearance since being remanded to jail ten days ago, after his $250 million bail was revoked by U.S. District Judge Lewis Kaplan. Judge Kaplan ruled in favor of federal prosecutors, stating that there is probable cause to believe that Bankman-Fried attempted to tamper with witnesses on at least two occasions following his initial arrest.
Prior to being jailed, Bankman-Fried was living under house arrest with his parents in Palo Alto, California, but was still subject to restrictions on his access to electronics.
Bankman-Fried’s defense attorney, Mark Cohen, argued before Magistrate Judge Sarah Netburn that his client, who follows a vegan diet, has been served non-vegan food in jail, leading him to subsist on bread, water, and occasionally peanut butter.
“Your Honor, that’s outrageous and needs to be remedied,” Cohen stated.
Cohen also claimed that Bankman-Fried had not received his prescribed medication since arriving at the Metropolitan Detention Center in Brooklyn on August 12, affecting his ability to focus.
In addition to the lack of computer access hindering trial preparation, the defense team, including attorney Christian Everdell, argued that being allowed to review the millions of pages of evidence for only two days a week severely restricts their ability to prepare for trial. Everdell referenced the Sixth Amendment in support of their position.
Judge Netburn expressed her intention to explore options for providing food that aligns with Bankman-Fried’s vegan diet and ensuring he receives his medications. However, she stated that she would not override Judge Kaplan’s decision regarding computer access.
FTX, Bankman-Fried’s cryptocurrency company, collapsed in late 2022 after being one of the leading cryptocurrency exchanges, attracting prominent figures. In December 2022, Bankman-Fried was arrested in the Bahamas by the U.S. government on charges of financial crimes. The government alleges that he deliberately misled investors and customers for personal gain and played a central role in the company’s collapse.
The Associated Press contributed to this report.
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