Legal costs in opposition to FTX co-founder Sam Bankman-Fried have been cut up, with the previous CEO now going through two separate trials for his alleged mismanagement of the crypto alternate.
Bankman-Fried is going through a complete of 13 costs regarding fraud, fraud conspiracy and bribery. A trial for all the fees was scheduled to start on Oct. 2.
5 of these costs will now be cut up off right into a second trial on March 11, 2024, in keeping with a June 15 ruling from United States District Courtroom Choose Lewis Kaplan.
Initially the FTX founder was extradited to the U.S. in December 2022 on eight costs, with additional indictments including one other 5 costs in February and March 2023.
The cost cut up comes as DOJ prosecutors requested a waiver from Bahamian authorities to attempt Bankman-Fried on the 5 extra costs they imposed after his extradition from the nation.
Attorneys for the FTX co-founder tried to dismiss these costs saying he couldn’t be tried on costs made after the extradition.
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On June 14, DOJ attorneys mentioned they might proceed to attempt Bankman-Fried on the unique eight costs they leveled in opposition to him citing a probably prolonged course of if the courtroom was to attend for the approval of a movement filed by Bankman-Fried in The Bahamas.
The brand new trial in March will deal with the fees of bribery conspiracy, conspiracy to function an unlicensed money-transmitting enterprise, financial institution fraud conspiracy together with derivatives and securities fraud.
The opposite costs relate to varied wire, derivates and securities fraud and conspiracy allegedly carried out at FTX and Alameda Analysis together with accusations of cash laundering.
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