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Infamous cryptocurrency entrepreneur and former CEO of FTX Sam Bankman-Fried will stand trial on eight unique legal costs, based on US prosecutors. The transfer leaves open the chance for the Bahamas to deliver any costs towards the business’s favourite former CEO.
The trial is scheduled to start on February 6, 2024 in US District Court docket in New York.
Indictments towards Bankman-Fried had been introduced in November 2023, charging him with market manipulation, wire fraud and cash laundering, amongst different crimes. He was arrested within the Bahamas and extradited to the US, whereas “advocating” for himself on his Twitter area and interview tour.
The Justice Division stated “the federal government has proceeded on this case pursuant to Article 14 of the Extradition Treaty between the US and the Bahamas.” This could permit the Bahamas to “advance the trial date”. To approve SBF’s trial in the US earlier than continuing together with his personal costs—if decided—reminiscent of:
“There is no such thing as a foundation for dismissing the extra counts within the superseding indictment.”
Prosecutors added that whereas it’s unsure whether or not The Bahamas will pursue its costs towards Bankman-Fried, “the [U.S.] The federal government is ready to proceed to trial as stipulated on the counts contained within the unique indictment and consent to the discretionary severance of the extra counts.” The prosecution additional clarified that “the submitting of extradition costs doesn’t violate the particular rule,” that means that the Bahamas is effectively inside its extradition treaty rights to file costs towards the SBF and is awaiting a response from the courts. Caribbean island.
The authorized crew representing the previous FTX CEO beforehand sought to have the fees decreased, arguing that 10 of the 13 costs introduced towards Bankman-Fried had been pointless. Though the unique eight costs stood, the courts ordered that “counts 4, six, 9, ten, and 13 be severed from the remaining counts within the cost,” particularly stating that depend 13 was “unique.”
On the time of writing, neither Bankman-Fried nor FTX has publicly commented on the prosecutors’ newest resolution.
