SUMMARY
- Federal attorneys have requested the elimination of five charges against Sam Bankman-Fried, in light of a recent Bahamian court ruling.
- The disputed charges, now 'severed,' will be deferred to 2024, setting the stage for a dual legal battle.
- Bankman-Fried, initially indicted on eight counts, has entered a plea of not guilty and awaits trial later this year.
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In a significant development, federal attorneys on Thursday sought the dismissal of five charges against Sam Bankman-Fried, the purported cryptocurrency scammer. The charges, including allegations of bribing a foreign official, have come under scrutiny following a Bahamian court ruling that questions whether the U.S. government complied with requisite protocols while filing the charges against the erstwhile billionaire.
Bankman-Fried's defense had earlier contended in both U.S. and Bahamian courts that these charges were not part of the initial indictment under which he was extradited from the Bahamas several months ago. The recent move by the Bahamian court to consider Bankman-Fried's plea has elicited this request from U.S. federal attorneys.
However, the charges haven't been completely discarded. Instead, they have been 'severed' or deferred to 2024. This period grants the U.S. federal government sufficient time to verify the compliance with the U.S.-Bahamas extradition treaty's terms and to address any concerns raised by the Bahamian government.
The delay signifies that Bankman-Fried's defense is likely to brace themselves for two separate legal battles: one involving the initial eight-count indictment scheduled later this year, and a second in 2024, for the five counts that federal attorneys have petitioned to sever.
Bankman-Fried, prosecuted by the office of U.S. Attorney Damian Williams, was initially indicted on eight counts, encompassing conspiracy to commit mail and wire fraud. The charges revolve around his alleged involvement in the misappropriation of billions in customer assets, leading to the demise of the crypto exchange FTX in late 2022. Despite the charges, Bankman-Fried maintains his innocence and has pled not guilty. His trial is expected to commence later this year.
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