Proceedings on the charges of the Ministry of Justice against the founder of the collapsed bitcoin exchange FTX Sam Bankman-Fried are separated into a separate criminal trial. This is stated in the decision of the court of the Southern District of New York dated June 15.
According to the document, 5 of the 13 charges brought against the businessman will be considered separately on March 11, 2024. Earlier, the Ministry of Justice requested a refusal from the Bahamian authorities on them, since they were put forward after the extradition of Bankman-Fried to the United States. Referring to the latter fact, the lawyers of the founder of FTX unsuccessfully tried to challenge them.
On June 14, DOJ lawyers announced their intention to proceed with the trial of the original eight charges due to a potential delay in the process pending approval of a petition filed by Bankman-Freed in the Bahamas. It was originally scheduled for October 2nd.
During the March hearing, the court will focus on allegations of bribery, conspiracy to operate an unlicensed money transfer business, conspiracy to commit bank fraud, and derivatives and securities fraud.
Recall that in December 2022, the US Department of Justice charged the head of FTX with eight criminal offenses. He was arrested in the Bahamas and extradited to the States, where he was released on $250 million bail.
In February 2023, prosecutors increased the number of charges against Bankman-Fried to 12, and in March to 13. He pleaded not guilty to any of the counts, including bribing a Chinese official.
Earlier, the former head of Alameda Research Caroline Ellison and FTX co-founder Gary Wang repented of their deeds and agreed to cooperate with the investigation. Later, Nishad Singh, CTO of the collapsed stock exchange, followed suit.
In April, a court approved strict cell phone controls for Bankman-Fried and his parents while under house arrest.
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