Former CEO of crypto alternate FTX, Sam Bankman-Fried, has requested a decide in the U.S. to dismiss a number of costs in opposition to him filed after his extradition from the Bahamas. His legal professionals insist that prosecutors haven’t obtained consent from Bahamian authorities for the extra counts.
FTX’s Sam Bankman-Fried Urges Courtroom to Drop Publish-Extradition Costs
Attorneys representing Sam Bankman-Fried (SBF), co-founder and ex-chief govt of the failed cryptocurrency alternate FTX, have filed a collection of motions in Manhattan federal courtroom on Monday, requesting the dismissal of a lot of felony costs in opposition to him.
The legal professionals say the fees filed after his extradition to the US are invalid as a result of prosecutors didn’t get correct consent from the Bahamian authorities, Bloomberg reported. They’re asking U.S. District Decide Lewis Kaplan to drop them.
The 31-year-old crypto entrepreneur was accused of operating a multibillion-dollar scheme to defraud buyers by means of what was one of many world’s largest crypto buying and selling platforms earlier than it filed for chapter safety amid liquidity points in November 2022.
U.S. authorities additionally allege that SBF misused buyer funds, together with to purchase property and enhance buying and selling by means of his crypto hedge fund Alameda Analysis. A few month after the Chapter 11 submitting, he was arrested in the Bahamian capital, Nassau, the place he had been residing.
Sam Bankman-Fried consented to simplified extradition to the US. His legal professionals argue that he nonetheless retained his rights underneath extradition regulation, insisting he couldn’t be tried on costs past these to which he agreed to be extradited for, stating:
Mr. Bankman-Fried consented to be tried solely on the fees in the unique indictment for which the federal government of the Bahamas agreed to extradition.
Since his arrival in the US, prosecutors have filed two superseding indictments in the case that introduced the whole variety of costs to over a dozen. Amongst them are a marketing campaign finance regulation violation cost and a number of other different counts of fraud.
“After Mr. Bankman-Fried returned to this nation, the federal government outdated the unique indictment, not as soon as however twice, improperly including a number of new, unrelated costs with out first acquiring the categorical consent of the Bahamian authorities,” his legal professionals elaborated. Though, based on courtroom paperwork, U.S. prosecutors have notified Bahamian authorities earlier than unsealing these indictments.
SBF has pleaded not responsible to all costs and is anticipated to face trial in October. His legal professionals are additionally making an attempt to compel the brand new administration of FTX to show over sure paperwork to him. They accused the corporate’s new CEO, John Jay Ray, of performing as “a public mouthpiece for the federal government by persevering with to make disparaging remarks” about Sam Bankman-Fried.
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