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Bernie Madoff's lawyer says Sam Bankman-Fried should 'shut up'
Sam Bankman-Fried is facing significant jail time: Bernie Madoff’s former lawyer Ira Lee Sorkin
Mintz & Gold partner and former Madoff lawyer Ira Lee Sorkin discusses Sam Bankman-Fried’s legal troubles and what’s next for him and his cronies on ‘The Claman Countdown.’
While watching media and paparazzi storm fallen FTX founder Sam Bankman-Fried outside a New York City courthouse, Bernie Madoff’s former lawyer was feeling "deja vu all over again."
"I've been there, done that," Ira Lee Sorkin, the attorney who represented Madoff during his Ponzi scheme trial, said in an exclusive interview on "The Claman Countdown" Thursday. "When the scope of the Madoff fraud developed, it became a circus. . . . There were cameras all over the place, satellite dishes, even ABC News, from what I understand, rented a place across the street with a camera that could look right into his penthouse. So there was no way that he was going to skip. And there doesn't seem to be a way that Mr. [Bankman-Fried] was going to skip."
A New York judge ruled Thursday that Bankman-Fried can post a $250 million bond and live in his parents' home in California as he awaits trial on fraud charges.
Authorities arrested the disgraced crypto exchange founder in the Bahamas earlier in the month. He has since been hit with multiple charges from the Southern District of New York and the Securities and Exchange Commission.
JUDGE ALLOWS FTX FOUNDER SAM BANKMAN-FRIED TO BE RELEASED ON $250M BOND TO PARENTS' PALO ALTO HOME
The charges Bankman-Fried faces in the U.S. include conspiracy to commit wire fraud, wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering, and conspiracy to defraud the Federal Election Commission and commit campaign finance violations, the Department of Justice says.
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