Via Larry Neumeister | Related Press
NEW YORK — A 2nd trial of FTX founder Sam Bankman-Fried on fees now not within the cryptocurrency fraud case offered to a jury that convicted him in November isn’t essential, prosecutors informed a pass judgement on Friday.
Prosecutors informed U.S. District Pass judgement on Lewis A. Kaplan in a letter that proof at a 2nd trial would reproduction proof already proven to a jury. In addition they stated it will forget about the “strong public interest in a prompt resolution” of the case, specifically as a result of sufferers would now not have the benefit of forfeiture or restitution orders if sentencing is not on time.
They stated the pass judgement on can imagine the proof that may be impaired at a 2nd trial when he sentences Bankman-Fried on March 28 for defrauding consumers and traders of a minimum of $10 billion.
Bankman-Fried, 31, who has been incarcerated since a number of weeks sooner than his trial, used to be convicted in early November of 7 counts, together with twine fraud, twine fraud conspiracy and 3 conspiracy fees. He may just face a long time in jail.
Latter spring, prosecutors withdrew some fees they’d introduced towards Bankman-Fried for the reason that fees had now not been licensed as a part of his extradition from the Bahamas in December 2022. They stated the costs might be introduced at a 2nd trial to happen someday in 2024.
On the other hand, prosecutors on the year stated that they’d nonetheless provide proof to the jury on the 2023 trial in regards to the substance of the costs.
The costs that had been briefly dropped incorporated conspiracy to build illegal marketing campaign contributions, conspiracy to bribe international officers and two alternative conspiracy counts. He additionally used to be charged with securities fraud and commodities fraud.
Of their letter to Kaplan, prosecutors famous that they presented proof about all the dropped fees all the way through Bankman-Fried’s monthlong trial.
They stated government within the Bahamas nonetheless have now not spoke back to their request to deliver the spare fees at a 2nd trial.
A conviction at the spare fees would now not lead to a possible for an extended jail sentence for Bankman-Fried, prosecutors stated.
“Proceeding with sentencing in March 2024 without the delay that would be caused by a second trial would advance the public’s interest in a timely and just resolution of the case,” prosecutors wrote. “The interest in avoiding delay weighs particularly heavily here, where the judgment will likely include orders of forfeiture and restitution for the victims of the defendant’s crimes.”
Protection legal professionals didn’t straight away reply to demands for remark.
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