US prosecutors water down FTX Ex-CEO SBF’s second trial probability: no new evidence

2024-1-2 12:23

US prosecutors deem the second trial unlikely for FTX’s ex-CEO Sam Bankman-Fried. Lack of new evidence cited; the initial trial covered major aspects of the case. The guilty verdict stands; sentencing is set for March 28, 2024, as scheduled.

United States prosecutors have signalled that there may not be a second trial for Sam Bankman-Fried (SBF), former CEO of the defunct cryptocurrency exchange FTX.

This development comes as stakeholders seek swift resolution, emphasizing the public interest and the anticipation of compensation details for FTX account victims. With the first trial concluding with Bankman-Fried found guilty on seven fraud charges, the focus is now on the sentencing set for March 28, 2024.

No second trial for Sam Bankman-Fried

Recent reports indicate that United States prosecutors are unlikely to pursue a second trial against Sam Bankman-Fried, the former CEO of FTX. The prosecutors emphasize that there is insufficient new evidence to warrant another trial, given that the majority of pertinent information was presented during the initial proceedings.

This assertion aligns with the desire for a swift resolution, particularly as victims await compensation details following the collapse of FTX in November 2022.

The decision not to pursue a second trial follows the guilty verdict reached on November 3, where Bankman-Fried faced charges including wire fraud, securities fraud, and money laundering conspiracy. Despite the verdict, Bankman-Fried’s request for an adjournment of his sentencing hearing was declined by Judge Lewis Kaplan.

The judge highlighted the absence of prior objections to the initially set sentencing date and Bankman-Fried’s prior extension for submitting sentencing materials. As a result, Bankman-Fried’s sentencing is scheduled for March 28, 2024.

This development underscores the judicial determination to adhere to established timelines and procedures. With the March 2024 sentencing date looming, the legal repercussions for the ex-CEO of FTX are becoming increasingly imminent. The case has drawn significant attention not only due to the high-profile nature of the individual involved but also the broader implications for victims seeking restitution from the cryptocurrency exchange’s downfall.

The post US prosecutors water down FTX Ex-CEO SBF’s second trial probability: no new evidence appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

FintruX Network (FTX) на Currencies.ru

$ 0.0007462 (+2.01%)
Объем 24H $73
Изменеия 24h: 3.78 %, 7d: 5.93 %
Cегодня L: $0.0007462 - H: $0.0007462
Капитализация $0 Rank 7418
Цена в час новости $ 0.0025809 (-71.09%)

trial new second evidence prosecutors ftx ex-ceo

trial new → Результатов: 126


SWIFT To Trial Run Chainlink’s Cross-Chain Interoperability Protocol

Chainlink bulls have long touted their excitement for potential developments with SWIFT, as the two have served as long-standing (but mostly veiled) partners. SWIFT serves as one of global banking’s biggest players, and in an announcement this week, the global financial firm shared a new proof-of-concept project that will utilize a Chainlink protocol to trial […]

2022-9-29 00:41


Фото:

Caribbean Island Taps Blockchain for COVID-19 Health Credential System 

Authorities in the Caribbean island of Aruba have joined forces with Indicio.tech and SITA to trial a distributed ledger technology (DLT) based COVID-19 health credential solution. With the new system, visitors who have tested negative for the virus will receive a digital certificate, which gives them free access to shops, restaurants, and other attractions onRead More

2021-5-12 23:00


Фото:

Digital Yuan Still in Trial: China Airdrops Another $3 Million Worth of Its DCEP to 10,000 Suzhuo Residents

China’s digital Yuan has been facing a series of trials since its launch. The country has been making several attempts to gain a foothold for its digital currency. Still, in the test phase, China has just airdropped another $3 Million worth of its DCEP to some Suzhuo residents, according to a new report. This appears […]

2020-12-17 18:00