Fallen FTX founder Sam Bankman-Fried, aka SBF, thinks the courtroom was too heavy-handed with the fees levied in opposition to him in December.
On Monday SBF’s authorized group requested Manhattan federal courtroom to dismiss 10 of the 13 prison costs in opposition to him, together with the overseas bribery cost, marketing campaign finance cost, and a financial institution fraud cost, based on the New York Instances.
Bankman-Fried was accused of misappropriating billions of {dollars} in buyer funds in a fraud scheme between his FTX cryptocurrency trade and his Alameda Analysis crypto buying and selling agency. FTX filed for chapter in November 2022 after a financial institution run uncovered an $8 billion gap within the firm’s accounts. SBF was arrested within the Bahamas and extradited to america in December. He’s presently free on a $250 million bond as he awaits his trial, which is scheduled to start out on October 2.
SBF has pleaded not responsible to the 13 fraud and conspiracy costs in opposition to him. Within the courtroom submitting, his authorized group argues that 10 of the fees violate the extradition course of or are too obscure, stating that the prosecution has an “eagerness to run up costs in opposition to Mr. Bankman-Fried,” per NYT.
Moreover, his attorneys declare that prosecutors “rushed to judgment” within the wake of the broad market crypto crash in 2022.
“Reasonably than watch for conventional civil and regulatory processes following their abnormal course to deal with the scenario, the federal government jumped in with each ft, improperly looking for to show these civil and regulatory points into federal crimes,” his attorneys wrote in a courtroom submitting, based on Reuters.
Prosecutors should reply to SBF’s dismissal request by Might 29. U.S. District Choose Lewis Kaplan is scheduled to listen to arguments on June 15.
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