Manhattan Judge Orders Jail to Give FTX Founder Sam Bankman-Fried Meds for Depression & ADHD

By: Ellen Cans

A federal judge ruled on Monday that the disgraced FTX founder, who was jailed last week, must be provided with depression and ADHD medication in prison.

As reported by the NY Post, Manhattan federal Judge Lewis Kaplan issued the order in response to a request by Sam Bankman-Fried’s defense attorney.  The lawyer requested that the Metropolitan Detention Center in Brooklyn give the defendant “uninterrupted access to his daily prescribed medications.”  The attorney said that his client was only able to take a small supply of meds with him when he was jailed on Friday.  “Without these medications, Mr. Bankman-Fried will experience a return of his depression and ADHD symptoms, which will severely impact his ability to assist in his own defense,” Bankman-Fried’s psychiatrist since 2019 has said, per the attorneys.

Bankman-Fried, 31, is the founder and CEO of the cryptocurrency exchange FTX and associated trading firm Alameda Research, both of which had a high-profile collapse which culminated in chapter 11 bankruptcy in late 2022.  His personal net worth had reached a peaked of $26 billion, leading him to be named the 60th richest person in the world and the 41st richest American, per Forbes.  He was arrested and charged for offenses including wire fraud, commodities fraud, securities fraud, money laundering, and campaign finance law violations.

In all, if found guilty of all eight counts, he would potentially face up to 115 years in prison.  Another five charges were later added after he was extradited from the Bahamas.  He was released on a $250 million bond, on condition that he reside at his parents’ California home.  On Aug, 11, his bail was revoked, after Judge Kaplan ruled that he may have committed witness tampering by leaking letters to the New York Times, including the personal writings of his former lover and admitted fraudster Caroline Ellison.  Per the Post, Ellison has already pleaded guilty to fraud and is expected to be a key witness against Bankman-Fried, as he faces trial for allegedly defrauding FTX customers out of billions of dollars.  She along with two other former FTX executives, Nishad Singh and Gary Wang, have agreed to cooperate with the federal authorities in the case against Bankman-Fried.

The judge has ordered Bankman-Fried to now be held in jail, without bail, until his October 2nd trial.  The lawyer’s recent plea claims that Bankman-Fried has been taking Adderall for his attention deficit hyperactivity disorder for the past three years, and has been wearing an Emsam patch for over five years for his depression, as per a letter filed in Manhattan federal court on Monday.  The judge ruled that he must be provided with the meds at the Metropolitan Detention Center, the Post reported.  The jail has been infamous for intolerable conditions, including severe staffing shortages, dirty cells, maggot-infested food, and power outages.

Bankman-Fried is accused of misusing billions in FTX customer funds to live a lavish lifestyle and back risky bets at his now bankrupt cryptocurrency exchange.  He has pleaded not guilty.  His lawyers have also filed a notice of appeal to the order locking him up.