The legal tussle surrounding Sam Bankman-Fried (SBF), the former CEO of FTX, intensifies as a federal judge denies his defense team’s
plea for an extended sentencing process. This decision occurs amid the prospect
of a looming second trial following SBF’s recent conviction on seven
charges of fraud and conspiracy.
As initially reported by Coindesk, SBF’s
defense team has sought an extension of four to six weeks for his sentencing
process, Coindesk first reported. The team emphasized a potential second trial
slated for March 11, which could impact the pending sentencing scheduled for
March 28.
SBF‘s defense team sought to delay the sentencing and
presentencing interview with the US Probation and Pretrial Services System,
citing the need to resolve all charges before initiating the sentencing
process.
However, District Judge Lewis Kaplan, overseeing the
case in the Southern District of New York, dismissed the plea, highlighting
that the defense did not initially contest the March 28 date.
According to the court documents, he underlined the
importance of proceeding with the presentencing interview, scheduled
imminently, as the defendant had adequate time for preparation.
The judge’s decision carries weight regarding the
impending second trial on bank fraud and Foreign Corrupt Practices Act
conspiracy charges. This unresolved legal facet adds complexity to SBF’s sentencing, potentially causing further delays depending on the
Department of Justice‘s choice to pursue the second trial.
Presentencing Interview to Proceed as Planned
Kaplan mentioned: “The defendant’s application,
dated December 20, 2023, to adjourn the sentencing data and to postpone the
dates for the first and second disclosures of the PSR is denied.”
“The sentencing data was fixed without
objection from the defendant. The defendant already has been granted one
extension for the filing of sentencing submissions. The defendant already has
had over six weeks in which to prepare for the presentencing interview, which
shall take place tomorrow as scheduled.”
Last month, a jury in New York delivered a unanimous guilty verdict on all seven counts of fraud, conspiracy, and money laundering
charges against SBF.
Each conviction carried hefty sentences, totaling a
staggering 115 years behind bars. The downfall of this industry icon stunned
the crypto community, marking a significant blow to FTX, the now-bankrupt
exchange he helmed.
The unraveling of SBF’s empire led to testimonies
against him from…
