According to reports, US authorities don’t think Sam Bankman-Fried, the former CEO of the now-closed cryptocurrency exchange FTX, will face a second trial.
Many parties involved in the trial want it to end as soon as possible, according to a Reuters story that was published on December 29.Prosecutors said, citing a court document, that the public interest “weighs particularly heavy here,” given that victims are anxious to learn how much money they will receive for their FTX accounts when the company collapsed in November 2022.
The majority of the evidence had already been made public at the first trial, so there wouldn’t be any more to offer, it added.After four hours of deliberations, a jury in Bankman-criminal Fried Fried’s trial found him guilty of all seven counts of fraud on Nov. 3. Bankman-Fried was convicted on two charges of wire fraud, two counts of conspiracy to commit wire fraud, one count each of securities fraud, commodities fraud, and money laundering.
The request made by Bankman-Fried to postpone his sentencing hearing for four to six weeks was denied in the interim.The schedule was not subject to modification by Judge Lewis Kaplan.The defense, he pointed out, had not objected when the sentence date was set.Furthermore mentioned was the fact that Bankman-Fried had already been granted one extension to provide her sentencing information.March 28, 2024 is Bankman-Fried’s planned sentencing date.