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FTX founder Sam Bankman-Fried arrives at Manhattan Federal Court for his court appearance in New York, United States on June 15, 2023.
Works of Al-Fateh / | Anadolu Agency | Getty Images
Federal prosecutors asked a judge on Thursday to remove five charges against alleged crypto fraudster Sam Bankman-Fried, including bribery of a foreign government official, after a Bahamas court ruling raised doubts about whether the US government followed the correct procedure to bring charges against him. Former billionaire.
Bankman-Fried’s legal team previously argued before US and Bahamas judges that the charges were not part of the FTX founder’s original indictment for which he was extradited from the Bahamas months earlier. A Bahamian judge said they would review Bankman-Fried’s arguments earlier this week, prompting the request by federal prosecutors.
However, the charges have been “dismissed” or adjourned until 2024, giving the federal government ample time to ensure that the terms of the US-Bahamas extradition treaty are met, and to address the concerns of the Bahamas government.
The dismissal means that Pinkman-Fried’s legal team will now likely have to fight two legal battles: one to try the original eight-count indictment later this year, and another, in 2024, for the five counts that federal prosecutors asked to be dismissed.
The US Attorney’s Office is prosecuting Bankman Fried. He was originally indicted on eight counts, including conspiracy to commit mail and wire fraud, over his alleged role in orchestrating the theft of billions of dollars in customer assets and the collapse of cryptocurrency exchange FTX in late 2022.
Bankman Fried has entered an acquittal lawsuit and is expected to go to trial later this year.
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