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Notorious cryptocurrency entrepreneur and former FTX CEO Sam Bankman-Fried will face trial on the original eight criminal charges. according to to US prosecutors. The move opened up the possibility that the Bahamas could sue the industry’s favorite former CEO.
The trial is scheduled to begin on February 6, 2024 in the United States District Court in New York.
Indictments against Bankman-Fried were announced in November 2023, accusing him of market manipulation, wire fraud and money laundering. He was arrested in the Bahamas and extradited to the United States while “defending” himself on his Twitter space and interview tour.
The Justice Department said, “The government proceeded with this case pursuant to Article 14 of the extradition treaty between the United States and the Bahamas.”This would give the Bahamas a chance “well before the trial date” Approve SBF’s trial in the United States, if so decided, before proceeding with SBF’s own charges.
“There is no basis for dismissing the additional counts of action in the substitute indictment.”
Prosecutors said it was unclear whether the Bahamas would pursue charges against Bankman-Fried, but said: [U.S.] The Government is prepared to proceed as scheduled under the counts contained in the original indictment and agree to terminate additional counts at its discretion. The prosecution further clarified that “the submission of alternative indictments does not violate professional rules.” This means that the Bahamian nations have retained full extradition treaty rights to accuse SBF, and the court is awaiting the court’s response. caribbean small island.
The legal team representing the former FTX CEO had previously sought relief, claiming that 10 of the 13 charges brought against Bankman-Fried were duplicates. . Despite the surviving original eight charges, the court ordered “counts 4, 6, 9, 10, and 13 to be severed from the rest of the indictment,” specifically count 13 being “at issue.” said.
As of this writing, neither Bankman-Fried nor FTX have publicly commented on the prosecution’s latest decision.