FTX founder SBF is expected to receive a formal verdict on March 28th next year. The US Department of Justice prosecutors have informed the judge today that the government has abandoned the plan to bring SBF to a second trial for the five additional charges filed this year.
(Background:
Defense lawyers are pessimistic: SBF is the “worst” witness in history, with little chance of turning the tide.
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(Additional information:
Breaking news! SBF “guilty verdict” jury finds him guilty of fraud, money laundering… all 7 charges are established)
Sam Bankman-Fried (SBF), the founder and former CEO of bankrupted exchange FTX, was ruled by the jury in early November to be guilty on all seven charges, including fraud and money laundering. The court is scheduled to announce the formal verdict on March 28th next year. According to the latest news from Bloomberg today (30th), the US Department of Justice prosecutors sent a letter to the presiding judge Lewis Kaplan, stating that the prosecution will abandon the plan to bring SBF to a second trial for the remaining charges.
It is understood that the prosecution filed six additional charges against SBF this year, including bank fraud, operating an unlicensed money transfer business, engaging in illegal political donations, bribing Chinese officials, etc. This means that SBF may not face another trial next year due to these additional charges.
Originally, these six additional charges were expected to initiate the trial process in March 2024.
Further reading:
SBF denies 13 charges of “misappropriation of assets, bribing Chinese officials,” and claims that the United States has no authority to prosecute!
Prosecutors hope for a speedy resolution
The prosecutors pointed out that most of the evidence that was originally planned to be presented in the second trial has already been presented in SBF’s initial trial, and the judge can consider this evidence in the sentencing on March 28th.
In addition, the prosecution also stated that the Bahamas agreed to extradite SBF last year to face the initial charges by the United States, but has not agreed to hold a trial on the additional charges. Such consent is required under the extradition treaty obligations. The spokesperson for SBF has currently refused to comment on the prosecution’s plan.
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Forbes Rich List “Recycling Trash”! SBF tops the “Forbes 30 under 30 Shame List”: Bad Blood Female Jobs, Former Alameda CEO…
SBF still wants bail! Rejected by the US court, he remains in custody until the verdict is announced in March next year
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FTX
SBF
Department of Justice
trial
United States