Synopsis Bankman-Fried is fighting to stay out of jail after US District Judge Lewis Kaplan raised concerns last month that the 31-year-old former billionaire wunderkind was testing the limits of his $250 million bail package by communicating in ways that could not be monitored. AFP FTX, once the world's highest profile crypto exchange, collapsed spectacularly in November leaving nine million customers in the lurch and seeing co-founder Bankman-Fried indicted for fraud by US prosecutors. . A US judge is expected on Friday to consider what restrictions Sam Bankman-Fried should face while free on bail, and whether the FTX cryptocurrency exchange founder's Oct. 2 fraud trial should be pushed back. Bankman-Fried is fighting to stay out of jail after US District Judge Lewis Kaplan raised concerns last month that the 31-year-old former billionaire wunderkind was testing the limits of his $250 million bail package by communicating in ways that could not be monitored. Federal prosecutors in Manhattan have charged Bankman-Fried with perpetrating an "epic" fraud by stealing billions of dollars in FTX customer funds to plug losses at Alameda Research , his hedge fund. They have also said Bankman-Fried made tens of millions of dollars in illegal political donations to buy influence in Washington, D. C. Late last month, prosecutors added new fraud and conspiracy charges against Bankman-Fried over the November collapse of his now-bankrupt exchange, meaning he now faces 12 charges. He had pleaded not guilty to the original eight charges in January. In a letter to Kaplan on Wednesday, Bankman-Fried's lawyers said they may need more time than expected to review the evidence and prepare a defense in light of the new charges. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories They also said prosecutors had not yet handed over evidence from electronic devices belonging to former Alameda CEO Caroline Ellison and former FTX technology chief Gary Wang . Ellison and Wang, once among Bankman-Fried's closest associates, have pleaded guilty and agreed to cooperate with the government. Last Friday, prosecutors proposed letting Bankman-Fried have a flip phone with no internet capability and a basic laptop with limited functions, but be forbidden from using other electronic communication devices while on bail. Prosecutors, defense lawyers and Kaplan began revisiting Bankman-Fried's bail conditions after the government said he sought to contact FTX Chief Executive John Ray and an in-house lawyer in what prosecutors described as a possible attempt to tamper with witnesses. Defense lawyers said Bankman-Fried was trying to help, not interfere. (Reporting by Luc Cohen in New York; Editing by Lincoln Feast . ) Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. click here! Friday, 10 Mar, 2023 Experience Your Economic Times Newspaper, The Digital Way! Read Complete Print Edition » Front Page Pure Politics ET Markets Smart Investing More Binny Bansal Looks to Recharge PhonePe with $100-150 million Flipkart cofounder Binny Bansal is in talks to invest about $100-150 million in PhonePe as part of an ongoing financing round at the digital payments company, people in the know said. Global PEs Take a Shine to Int’l Gem Institute Blackstone, CVC Capital Partners and Goldman Sachs are among several bulge-bracket global private equity funds weighing bids to buy a controlling stake in the International Gemological Institute (IGI) in a deal that could value the world’s biggest independent diamond-grading firm anywhere between $250 million and $300 million, two people directly aware of the talks told ET. Max, KKR in Talks with TPG to Buy Care Hospitals Max Healthcare Institute and KKR & Co have initiated separate discussions with TPG to buy Care Hospitals after earlier frontrunner Blackstone pulled out due to a valuation mismatch, said people with knowledge of the matter. Read More News on ftx wang lincoln feast alameda research Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox. . . . more less ETPrime stories of the day Policy and regulations Why do Sikkimese fear losing special status, and its benefits? 4 mins read 5 insights to kick-start your day, featuring Go First vs. Pratt & Whitney 6 mins read Strategy Stock Radar: This life insurance company likely to touch multi-year highs post breakout on weekly charts; time to buy? 3 mins read Subscribe to ETPrime.