Imagine accepting hundreds of thousands of dollars in investor dollars from some of the most famous politicians and celebrities in America under the guise of the money being an investment in cryptocurrency. Now, imagine that you had no clue how to handle all that money or what to actually accomplish with it.
That’s the argument that Sam Bankman-Fried has been using in an attempt to avoid criminal prosecution for his massive billion-dollar Ponzi scheme, and so far, it appears that the media and U.S. courtrooms are falling for it. According to recent reports, Sam Bankman-Fried has been in and out of court awaiting his ultimate trial, but he continues to access parts of the internet that the government can’t monitor.
Prosecutors allege that the suspect has sent encrypted messages through the Signal texting app to other members of FTX US, which he should not be doing as a part of his bail package. On top of that, prosecutors worry that this type of communication could influence potential witnesses. This isn’t the only way Sam Bankman-Fried is bucking his internet restrictions.
He also allegedly accessed an encrypted website in order to watch the Super Bowl. As a result of the suspect’s consistent disregard for his bail conditions and his widespread access to electronic devices while on release, prosecutors are now arguing that the suspect’s bail should be revoked. In jail, they argue, he wouldn’t be able to access the internet anymore.
On the flip side, however, the suspect’s lawyer argues that jailing him simply to prevent him from using the internet is “draconian”.
Clearly, courtrooms, the media, and the general public don’t have the same level of internet-knowledge that some suspects, like Sam Bankman-Fried, do. This puts them at a clear disadvantage when it comes to prosecuting certain internet crimes. It also makes it more difficult to set bail conditions.
What happens in this trial will likely set a precedent for future internet crime cases.
Unfortunately, that could mean committing an internet crime means you’ll be barred from using electronic devices until your sentencing date. Are you currently facing criminal charges as a result of your online actions? If so, then it’s important to hire an informed and qualified attorney to represent you.
If you’re in the New York area, then our firm can help. Leave your contact details on our online form now to schedule a consultation with our office.