NEW YORK A second trial of FTX founder Sam Bankman-Fried on expenses not within the cryptocurrency fraud case offered to a jury that convicted him in November shouldn’t be essential, prosecutors advised a decide Friday.
Prosecutors advised U.S. District Choose Lewis A. Kaplan in a letter that proof at a second trial would duplicate proof already proven to a jury. Additionally they stated it might ignore the robust public curiosity in a immediate decision of the case, notably as a result of victims wouldn’t profit from forfeiture or restitution orders if sentencing is delayed.
They stated the decide can think about the proof that may be used at a second trial when he sentences Bankman-Fried on March 28 for defrauding clients and traders of at the very least $10 billion.
Bankman-Fried, 31, who has been incarcerated since a number of weeks earlier than his trial, was convicted in early November of seven counts, together with wire fraud, wire fraud conspiracy and three conspiracy expenses. He may face many years in jail.
Final spring, prosecutors withdrew some expenses they’d introduced towards Bankman-Fried as a result of the costs had not been authorised as a part of his extradition from the Bahamas in December 2022. They stated the costs may very well be introduced at a second trial to happen someday in 2024.
Nonetheless, prosecutors on the time stated that they’d nonetheless current proof to the jury on the 2023 trial in regards to the substance of the costs.
The fees that had been quickly dropped included conspiracy to make illegal marketing campaign contributions, conspiracy to bribe overseas officers and two different conspiracy counts. He additionally was charged with securities fraud and commodities fraud.
Of their letter to Kaplan, prosecutors famous that they launched proof about all the dropped expenses throughout Bankman-Fried’s monthlong trial.
They stated authorities within the Bahamas nonetheless haven’t responded to their request to convey the extra expenses at a second trial. A lawyer for Bankman-Fried declined remark.
A conviction on the extra expenses wouldn’t lead to a possible for an extended jail sentence for Bankman-Fried, prosecutors stated.
Continuing with sentencing in March 2024 with out the delay that may be brought on by a second trial would advance the publics curiosity in a well timed and simply decision of the case, prosecutors wrote. The curiosity in avoiding delay weighs notably closely right here, the place the judgment will seemingly embody orders of forfeiture and restitution for the victims of the defendants crimes.
