FTX founder Sam Bankman-Fried leaves US Federal Court docket in New York Metropolis on March 30, 2023.
Kyle Mazza | Anadolu Company | Getty Photos
Federal prosecutors requested a choose on Thursday to take away 5 fees in opposition to alleged crypto fraudster Sam Bankman-Fried, together with bribery of a overseas authorities official, after a Bahamas court docket ruling solid doubt on whether or not the U.S. authorities had adopted the right process for bringing the fees in opposition to the previous billionaire.
Bankman-Fried’s authorized workforce had beforehand argued earlier than each U.S. and Bahamanian judges that the fees weren’t a part of the FTX founder’s unique indictment underneath which he had been extradited from the Bahamas months earlier. A Bahamian choose stated they might evaluation Bankman-Fried’s arguments earlier this week, prompting the request from federal prosecutors.
The fees, nonetheless, have merely been “severed,” or punted to 2024, giving the federal authorities ample time to make sure the circumstances of the U.S.-Bahamas extradition treaty have been met, and to fulfill issues from the Bahamas authorities.
The severance implies that Bankman-Fried’s authorized workforce will possible now must gird for 2 authorized fights: one to attempt the unique eight-count indictment later this 12 months, and one other in 2024, for the 5 counts that federal prosecutors have requested to sever.
U.S. Lawyer Damian Williams’ workplace is prosecuting Bankman-Fried. He was initially indicted on eight counts, together with conspiracy to commit mail and wire fraud, over his function in allegedly orchestrating the theft of billions of {dollars} of buyer property and the collapse of crypto alternate FTX in late 2022.
Bankman-Fried has entered a plea of not responsible and is predicted to be tried later this 12 months.
