Sam Bankman-Fried, the co-founder of FTX and former outstanding determine within the cryptocurrency realm, won’t bear a second trial on further fees.
Prosecutors knowledgeable US District Judge Lewis Kaplan that, for the sake of expediency, they might abandon plans to attempt Bankman-Fried on fees together with conspiracy to bribe overseas officers, commit financial institution fraud, and function an unlicensed cash transmitting enterprise. The 31-year-old entrepreneur was just lately convicted of seven counts of fraud and conspiracy, doubtlessly dealing with a long time in jail consequently.
US Prosecutors Said Additional Charges Ain’t Essential
In a latest improvement, prosecutors have revealed that the Bahamas, the nation that extradited Sam Bankman-Fried to face preliminary fees within the United States, has not but given its consent for the U.S. to proceed with making an attempt him on further fees.
This consent is remitted by treaty obligations. However, Bankman-Fried, the previous CEO of FTX, initiated a authorized problem within the Bahamas earlier this yr, main the U.S. authorities to bifurcate the case.
The authorities highlighted that a good portion of the proof slated for a second trial had already been introduced throughout Bankman-Fried’s authentic trial. As a end result, the choose can think about this proof in the course of the sentencing section scheduled for March 28. The letter additionally notes:
“Proceeding with sentencing in March 2024 without the delay that would be caused by a second trial would advance the public’s interest in a timely and just resolution of the case”.
SBF, And His FTX Fraud
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