Bankman-Fried’s Second Trial Unlikely, Says U.S. Prosecutors

U.S. prosecutors have indicated that a second trial is unlikely for Sam Bankman-Fried, former CEO of the defunct FTX cryptocurrency exchange. A Reuters report from December 29 notes a general consensus for a swift resolution of the trial. Prosecutors, citing a court document, emphasized the public’s strong interest, especially among victims seeking compensation after FTX’s November 2022 collapse. They also mentioned the lack of sufficient new evidence for a second trial, as most was already presented in the first.

On November 3, Bankman-Fried was convicted on seven fraud charges, including wire fraud, securities fraud, and money laundering conspiracy, following a jury’s four-hour deliberation.

Additionally, Bankman-Fried’s plea for a delay of four to six weeks in his sentencing hearing was rejected. Judge Lewis Kaplan upheld the original schedule, noting the defense had previously agreed to the sentencing date and Bankman-Fried had already been granted an extension for filing sentencing submissions.

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