Sam Bankman-Fried will not have a second trial
The controversial founder of the cryptocurrency exchange platform FTX, will not face a second trial in the United States
Sam Bankman-Fried, the controversial founder of cryptocurrency exchange platform FTX, will not face a second trial in the United States, prosecutors confirmed last Friday. After being found guilty last month of defrauding FTX users, Bankman-Fried was embroiled in a series of charges that culminated in a first conviction trial.
The U.S. Department of Justice. The U.S. decided not to proceed with a second trial, based on arguments presented in a Manhattan federal court. According to sources, prosecutors felt that another trial would only delay justice and would not contribute significantly to the case, given that much of the evidence had already been presented before.
Bankman-Fried, 31, was facing six additional charges following his November conviction for crimes including electronic fraud, securities fraud and money laundering. These charges related to violations of campaign finance laws and illegal money transfer operations. However, prosecutors decided not to pursue these additional charges.
The former CEO of FTX, extradited from the Bahamas in December 2022, remains in prison awaiting sentencing. The sentencing hearing is scheduled for March 2024, facing a possible maximum sentence of more than 100 years in prison. This turn of events marks another chapter in the fall of one of the most recognized names in the world of cryptocurrencies.
K. Tovar
Source: Diariobitcoin
(Reference image source: X, @MailOnline)
Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram
