U.S. Department of Justice (DoJ) prosecutors, district judge on June 14 Lewis KaplanThey wrote to . They said they would continue to prosecute Bankman-Fried on eight charges.
Attorneys of the Ministry of Justice, Bankman-Fried He argued that many of the 13 charges brought against him in the Bahamas were not included in the original indictment on which he was extradited. As this is likely to be a lengthy process, prosecutors expressed their readiness to proceed with the trial as planned regarding the charges in the original indictment.
Bankman-Fried Denies Fraud Claims
on 14 June Bahamas Supreme CourtHe said Bankman-Fried should be given the opportunity to formally appeal before the base can accept new charges.
Following Bankman-Fried’s extradition, the Justice Department brought four charges in February on fraud and conspiracy charges, and an additional charge in March for alleged bribery of Chinese officials.
First in December 2022 FTX Bankman-Fried, who was accused of failing to manage the stock market, led to the bankruptcy of the company shortly after the liquidity crisis experienced by the stock market in November 2022. It is estimated that FTX owes over $3 billion to creditors. Prosecutors allege that Bankman-Fried scrambled client funds and misled investors about FTX’s risk management practices, causing them to incur losses.
subsidiary of FTX Alameda Researchformer CEO of Caroline Ellisonand co-founder of FTX Gary Wang pleaded guilty to fraud charges in connection with the exchange’s bankruptcy. However, Bankman-Fried stated that the bankruptcy was caused by management errors, not fraud.
