Bankrupt FTX crypto exchange sues founder's parents for millions in alleged fraudFTX’s Sam Bankman-Fried is amidst a pressing situation during his detention. As first revealed by Reuters, the founder of the beleaguered cryptocurrency firm urgently needs access to his depression and ADHD medications while in custody. His lawyers made a resolute plea on Monday to ensure these medical essentials are delivered ahead of his imminent fraud trial.
FTX’s founder’s medication essentials
FTX’s Bankman-Fried and his legal team submitted a letter to U.S. District Judge Lewis Kaplan, imploring that the Metropolitan Detention Center (MDC) in Brooklyn facilitate their client with his daily Emsam skin patch. This medication is a treatment for depression. Additionally, they are asking for three to four daily doses of Adderall, a drug designed to manage ADHD. The former billionaire, now 31, has depended on these treatments for five and three years, respectively.
The legal counsel for FTX’s founder stressed the paramount importance of continuing this medication schedule. Without it, Bankman-Fried’s well-being could be critically compromised, thereby hampering his capability to be an active participant in his defense. This concern is reinforced by a letter from his psychiatrist, which was presented to the court.
Judge Kaplan, last Friday, upon uncovering hints of potential witness interference, chose to transfer Bankman-Fried to the MDC. This move left him with a minimal amount of his medicines, sufficient only for a limited duration, a point underscored by his lawyers.
Bankman-Fried has staunchly refuted claims of siphoning billions from FTX to counterbalance the losses at his Alameda Research hedge fund. Up until the latest shift in circumstances, he was majorly confined to his parents’ house in Palo Alto, California, with a staggering $250 million bond acting as surety, post his December extradition from the Bahamas, where FTX had established its headquarters.
A poignant moment in a Bahamian court encapsulated the gravity of his medical needs. After being detained at the lavish Albany resort where he was staying, during an initial hearing, FTX’s founder had to momentarily step out to adjust his Emsam patch, shedding light on the criticality of his medical regimen.
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