Bankman-Fried subsisting on bread, water and peanut butter in jail: lawyer

An attorney for FTX founder Sam Bankman-Fried claimed Tuesday that his client was subsisting on just bread, water and peanut butter as he struggled to adequately prepare for trial in a Brooklyn jail.

Bankman-Fried appeared in federal court Tuesday and pleaded not guilty to seven charges in a superseding indictment that accused the fallen cryptocurrency tycoon of wire fraud, securities fraud, defrauding lenders and several conspiracy counts. He will face charges at a trial beginning in October.

His appearance at a Manhattan federal court marked his first public appearance since he was remanded to jail 10 days ago after his $250 million bail was revoked by U.S. District Judge Lewis Kaplan. Kaplan ruled in favor of federal prosecutors after he determined there was probable cause to believe Bankman-Fried tried to “tamper with witnesses at least twice” since he was first arrested. 

He previously was living with his parents in Palo Alto, Calif., under house arrest, although he still had to abide by restrictions to his access to electronics.

Bankman-Fried’s defense attorney Mark Cohen argued before Magistrate Judge Sarah Netburn that Bankman-Fried, who adheres to a vegan diet, continued to be served a “flesh diet” while jailed, prompting him to subsist on bread, water, and, sometimes, peanut butter. 

“Your Honor, that’s outrageous and needs to be remedied,” Cohen said.

Cohen also said that Bankman-Fried had not been administered the prescribed medication necessary for him to focus since he arrived at the Metropolitan Detention Center in Brooklyn Aug. 12. 

Along with another defense attorney, Christian Everdell, the defense team argued that lack of access to computers makes it difficult to prepare for trial, and Everdell argued that only being allowed to review the millions of pages of evidence for two days a week was restricting the client’s ability to prepare for trial. Everdell reportedly cited rights under the Sixth Amendment. 

Netburn said she would inquire about getting food options more suitable to Bankman-Fried’s vegan diet and about providing his medications. She said she would not overrule Kaplan’s determination on the computer access.

Bankman-Fried’s cryptocurrency company, FTX, collapsed in late 2022, after previously being one of the hottest cryptocurrency exchanges, attracting a number of high-profile public figures. In December 2022, Bankman-Fried was arrested in the Bahamas by the U.S. government and charged with a number of financial crimes. The government accused him of intentionally deceiving investors and customers to enrich himself and of playing a central role in the company’s collapse.  

The Associated Press contributed.