June 24, 2024
Bankman-Fried's Request for Sentencing Delay Turned Down
Latest Cryptocurrency News

Judge Denies Sam Bankman-Fried’s Plea for Sentencing Extension Amidst Pending Trials

A federal judge has refused FTX’s former CEO Sam Bankman-Fried’s plea to prolong his sentencing proceedings and postpone an initial interview with the U.S. Probation and Pretrial Services System, which will offer a sentence recommendation. Bankman-Fried’s legal team sought an extension in a letter submitted on Wednesday, citing potential upcoming charges for a second trial set for March 11.

Although the sentencing is planned for March 28, they urged a delay in the presentence interview scheduled for the following day, along with other impending deadlines. They argued that starting the sentencing process before resolving the additional charges might result in separate procedures and hearings based on evidence already presented in the prior trial.

Last month, Bankman-Fried was found guilty on seven counts of fraud and conspiracy, accused of mishandling FTX customer and investor funds, along with funds from Alameda Research’s lenders.

Judge Lewis Kaplan of the Southern District of New York, overseeing the case, dismissed the motion, noting that the defense didn’t oppose the original March 28 date. The judge hinted at the possibility of a sentencing delay if the Department of Justice proceeds with a second trial on bank fraud and Foreign Corrupt Practices Act conspiracy charges.

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