Skip to main content

Judge will consider whether to try Sam Bankman-Fried separately for superseding charges: Report

Prosecutors said they were prepared to try SBF on his original eight-count indictment starting in October, with the remaining five charges to be decided by Judge Lewis Kaplan.

A United States federal judge is reportedly weighing a proposal to split former FTX CEO Sam Bankman-Fried’s (SBF) criminal charges into two trials following a filing from prosecutors. 

According to a June 15 report from The Wall Street Journal, Judge Lewis Kaplan of the District Court for the Southern District of New York was considering whether to dismiss or separate charges in Bankman-Fried’s criminal case after an “imaginative” argument from the former FTX CEO’s legal team. Bankman-Fried’s lawyers filed a motion that argued he should not face charges that had not been included in the extradition papers from the Bahamas to the U.S. in 2022.

The original indictment for SBF included eight criminal charges, but a superseding indictment in February and a subsequent charge added in March increased the total to 13. Should the judge sever the trials, Bankman-Fried could face one trial focused on the additional charges of allegedly bribing a Chinese government official and other matters related to fraud at FTX and Alameda Research.

Prosecutors with the U.S. Department of Justice said they were prepared to try SBF on the original indictment starting in October, with the process of the remaining five charges to be decided by Judge Kaplan. The Wall Street Journal reported that the judge suggested he was unlikely to outright dismiss any criminal charges prior to trial.

Related: FTX argues that releasing ‘valuable’ customer list will harm its sale value

Following the collapse of crypto exchange FTX in November 2022 and allegations of misuse of customer funds, Bankman-Fried was extradited from the Bahamas to the U.S. as part of a case initiated by the Justice Department. SBF has pleaded not guilty to all charges and has largely been restricted to his parents’ California home as part of his bail conditions.

Former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang pleaded guilty to charges related to the alleged financial entanglements between FTX and Alameda. FTX’s bankruptcy case has also been proceeding in a Delaware court.

Magazine: Can you trust crypto exchanges after the collapse of FTX?



from https://ift.tt/YQgbd4o
https://ift.tt/UJDoWmg

Comments

Popular posts from this blog

ENS DAO delegates offer perspective on DAO governance and decentralized identity

AlphaWallet CEO and Spruce co-founder talk about their roles as contributors to the Ethereum Name Service following the project's recent airdrop. Earlier this month, the Ethereum Name Service, or ENS, formed a decentralized autonomous organization, or DAO, for the ENS community.  Cointelegraph spoke to two ENS DAO delegates who applied for the opportunity to represent the community and stay involved in the decision making process: Victor Zhang, CEO of AlphaWallet, an open source Ethereum wallet, and Gregory Rocco, co-founder of Spruce, a decentralized ID and data toolkit for developers. Zhang spoke about his experience as an external contributor to ENS and an early supporter since 2018. Zhang initially sought to help ENS by offering Alpha Wallet as a user-friendly tool for  resolving .eth names and cryptocurrency wallet addresses. Essentially, if a user inputs an .eth name in the AlphaWallet, it will show the wallet address, and vice versa using reverse resolution. Alpha...

How Social Platform Chingari is Using Web 3.0 to Transform the Traditional Way We Use Social Media

The world is changing. This isn’t news to anyone, but sometimes it is nice to realize that—contrary to news headlines—not all the change is bad.  In fact, the last decade has seen so much innovation and so many improvements to technology that even 2015 seems like a different world.  Internet speeds, connecting with anyone globally (for free), and our ability to reach large groups of people without a middleman is nothing short of revolutionary. When it comes to technology evolution, this often happens with different iterations.  Once a system is mature, there’s a better idea of what we would like to change and improve.  We go back to the drawing board, target our creative minds at the issues, and create a new version that has evolved to better meet our needs.  The Internet has followed this model since its inception, evolving through three distinct stages.  We are only at the cusp of the third stage, called Web 3.0, with technologies such as blockchain and ...

INX submits bid for Voyager Digital's assets

FTX US won a $1.4-billion bid to purchase Voyager’s assets in September, but with the firm filing for bankruptcy, the funds were once again up for grabs. Trading platform INX has submitted a bid for an undisclosed amount to purchase the assets of crypto brokerage firm Voyager Digital. In a Nov. 30 announcement, INX said it had sent a non-binding letter of intent for Voyager’s assets following the platform filing for bankruptcy in July. According to INX CEO Shy Datika, the bid was aimed at providing “credibility, technology, and unique regulatory positioning” for Voyager users seeking stability in a volatile market. Voyager’s original bankruptcy filing from the Southern District Court of New York suggested the firm could owe between $1 billion to $10 billion to more than 100,000 creditors amid a bear market and exposure to Three Arrows Capital. In September, FTX US won a $1.4-billion bid to purchase Voyager’s assets, but with FTX Group itself filing for bankruptcy in November, th...