Court temporarily blocks new charges in Sam Bankman-Fried’s US indictment

Court temporarily blocks new charges in Sam Bankman-Fried’s US indictment
ôîòî ïîêàçàíî ñ : invezz.com

2023-6-15 13:10

Sam Bankman-Fried has been battling with lawmakers since the FTX exchange debacle last year. In a twist to the fight surrounding the cryptocurrency entrepreneur, the Bahamian court has temporarily blocked new charges in SBF’s US indictment.

A judge blocked the nation’s attorney general from authorizing additional legal actions, following SBF’s request.

Court Grants Temporary Stay on Additional Charges in #SBF’s US Indictmenthttps://t.co/r7cwcBT6WB#Bitcoin #Crypto #CryptoNews #CryptocurrencyNews #NFT #Web3 #Blockchain #FTX #SBF pic.twitter.com/mlB9Xn0sGO

— CryptosHeadlines.com (@CryptosHeadline) June 14, 2023 SBF temporarily blocks new charges

The FTX CEO won an order that had the Bahamas blocking the authorities from authorizing new charges in his United States indictment. The government added campaign finance and bribery charges (following SBF’s extradition to New York).

Bloomberg reports show Bankman argued that the agreement to return to the US from the Bahamas did not include the new charges. Meanwhile, experts believe this new update might delay the case proceeds in the United States. That means it might take time to conclude. Sam Bankman is currently free on a $250M bond.

FTX authorized to remove customer names

As indicated here, the court authorized FTX to redact client names from its bankrupt case. The exchange argued that including customers in the filings makes them vulnerable to identity theft and scams. While media outlets have been pushing to access the list, the grants to remove the names will likely frustrate news platforms.

Prosecutors declined SBF bid to remove charges

Sam Bankman Fried’s case has seen several developments from prosecutors lately. They slammed the founder’s proposal to dismiss charges against him. SBF said he was not guilty of ten out of 13 counts, spanning from conspiracy to commit fraud.

The prosecutors stated that the indictment shows the Bankman and co-conspirators made misleading representations of Alameda’s financial state to lenders.

Meanwhile, it remains unclear when Bankman will end his battle with lawmakers. Enthusiasts may have to watch the latest crypto news for upcoming developments in the case.

The post Court temporarily blocks new charges in Sam Bankman-Fried’s US indictment appeared first on Invezz.

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