Sam Bankman-Fried will not face a second trial, lawyers say
CNN
US prosecuters submitted a letter to a New York federal court Friday that it doesn’t plan to proceed with a second trial against disgraced FTX founder Sam Bankman-Fried.
US prosecutors submitted a letter to a New York federal court Friday saying that they don’t plan to proceed with a second trial against Sam Bankman-Fried, the disgraced founder of crypto exchange FTX. Bankman-Fried was found guilty in November on seven counts of fraud and conspiracy related to FTX’s collapse. Bankman-Fried was set to face a second trial in March on five additional charges that were severed from the original proceedings. A federal judge had asked prosecutors to decide by February 1 whether that would proceed. Prosecutors on Friday said most of the evidence that would be presented against Bankman-Fried was already offered in the first trial. Bankman-Fried is set to be sentenced in March 2024. “Given that practical reality, and the strong public interest in a prompt resolution of this matter, the Government intends to proceed to sentencing on the counts for which the defendant was convicted at trial,” the letter from US Attorney Damian Williams said.
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