US prosecutors won’t pursue 2nd trial against Bankman-Fried

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Former FTX CEO Sam Bankman-Fried might solely want to attend for his sentencing scheduled for March 28, 2024, since U.S. prosecutors said that they don’t plan to proceed with a second trial towards the disgraced entrepreneur.

Extra legal counts towards Bankman-Fried accuse the previous crypto mogul of unlawful marketing campaign financing, financial institution fraud, and securities and commodities violations. 

In keeping with Bloomberg, the U.S. authorities — in a letter to Decide Lewis Kaplan — notified the courtroom that many of the proof that will have been offered within the second trial slated for March 2024, was already addressed in Bankman-Fried’s first trial. 

Along with “the robust public curiosity in a immediate decision of this matter,” prosecutors want to proceed to Bankman-Fried’s sentencing, primarily based on the counts from his first conviction. 

“Continuing with sentencing in March 2024 with out the delay that will be brought on by a second trial would advance the general public’s curiosity in a well timed and simply decision of the case, ‘as delay in sentencing might go away the defendant, in addition to the sufferer, in limbo in regards to the penalties of conviction.’”

Excerpt from the letter to Decide Lewis Kaplan

A 12-member jury in November found Bankman-Fried responsible of a seven-count cost involving fraud, conspiracy, and cash laundering. 

Bankman-Fried’s sentencing is scheduled to be held on March 28, 2024, with the costs carrying a mixed most jail sentence of over 100 years. 

In December, Decide Kaplan denied Bankman-Fried’s request submitted on Dec. 20, for a four-to-six-week extension of his sentencing listening to. The request got here a day earlier than the previous FTX’s CEO was scheduled for a pre-sentence interview on Dec. 21. 

In keeping with the decide, Bankman-Fried’s legal professionals didn’t object to the sentencing dates when it was set after the primary trial. 

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