- US prosecutors deem the second trial unlikely for FTX’s ex-CEO Sam Bankman-Fried.
- Lack of latest proof cited; the preliminary trial coated main points of the case.
- The responsible verdict stands; sentencing is ready for March 28, 2024, as scheduled.
United States prosecutors have signalled that there will not be a second trial for Sam Bankman-Fried (SBF), former CEO of the defunct cryptocurrency alternate FTX.
This growth comes as stakeholders search swift decision, emphasizing the general public curiosity and the anticipation of compensation particulars for FTX account victims. With the primary trial concluding with Bankman-Fried discovered responsible on seven fraud fees, the main target is now on the sentencing set for March 28, 2024.
No second trial for Sam Bankman-Fried
Current stories point out that United States prosecutors are unlikely to pursue a second trial towards Sam Bankman-Fried, the previous CEO of FTX. The prosecutors emphasize that there’s inadequate new proof to warrant one other trial, given that almost all of pertinent data was introduced throughout the preliminary proceedings.
This assertion aligns with the will for a swift decision, significantly as victims await compensation particulars following the collapse of FTX in November 2022.
The choice to not pursue a second trial follows the responsible verdict reached on November 3, the place Bankman-Fried confronted fees together with wire fraud, securities fraud, and cash laundering conspiracy. Regardless of the decision, Bankman-Fried’s request for an adjournment of his sentencing listening to was declined by Decide Lewis Kaplan.
The choose highlighted the absence of prior objections to the initially set sentencing date and Bankman-Fried’s prior extension for submitting sentencing supplies. In consequence, Bankman-Fried’s sentencing is scheduled for March 28, 2024.
This growth underscores the judicial dedication to stick to established timelines and procedures. With the March 2024 sentencing date looming, the authorized repercussions for the ex-CEO of FTX have gotten more and more imminent. The case has drawn important consideration not solely as a result of high-profile nature of the person concerned but in addition the broader implications for victims in search of restitution from the cryptocurrency alternate’s downfall.
