Sam Bankman-Fried, also known as SBF, had a remarkable legal journey filled with unexpected developments. As per the recent ruling by United States District Court Judge Lewis Kaplan on June 15, the former FTX CEO will be required to participate in two distinct trials: the first on October 2 (as initially scheduled) and the second on March 11, 2024.
SBF has pleaded not guilty to all 13 accusations against him and is awaiting the October trial in court. Five of the charges will be tried separately on March 11, 2024, with the remaining three on the original date.
However, the most recent detour occurred after a court filing on June 14. In the filing, DoJ prosecutors informed Judge Kaplan in a letter that they would pursue Bankman-Fried on the eight accusations brought against him in December 2022.
The eight counts that were imposed in the original grand jury indictment included violations of campaign finance laws, securities fraud, money laundering, and conspiracy to commit wire fraud against lenders and customers.
Attorneys representing SBF in the Bahamas had previously contended that many of the 13 accusations he faced were not included in the original indictment. This served as the foundation for his extradition from the nation.
DoJ Attorneys to Move Forward with SBF’s Initial Indictment Charges
They also expressed concerns that the legal process would go on for “months or years.” Moreover, postponing the October trial date in the US or giving him little time to prepare against the new claims.
Citing the motion filed by Bankman’Fried lawyers. The DoJ representatives wrote they’re “prepared to proceed to trial as scheduled on the counts contained in the original indictment.“
The charges of conspiracy to commit securities and derivatives fraud and conspiracy to conduct an unauthorized money-transfer company. In addition, conspiracy to commit bribery will be the main topic of the upcoming trial in March.
According to an earlier report, Judge Loren Klein’s court ruling strengthened SBF’s attempt to counter the additional charges imposed by the DOJ.
Judge Klein wrote in the court order:
Leave is granted to the claimant to commence proceedings for judicial review. All of the grounds advanced by the claimants disclose arguable claims with a real prospect of success.
In other words, the court temporarily restrained the government from approving the addition of further charges to Bankman-Fried’s US indictment.
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