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Prosecutors Call SBF’s Arguments To Dismiss Crypto Charges “Meritless”

The huge collapse of the notorious crypto exchange FTX turned out to be quite fatal for the entire crypto and financial sector. During the time of that collapse, the United States-based Department of Justice reacted to Sam Bankman-Fried (the former chief executive officer of the crypto exchange) who is the person at the center of the whole debacle of the platform.

Prosecutors Reject the Motions and Argument Presented by SBF’s Legal Team to Dismiss Allegations

The Department of Justice (DOJ) levied several allegations against SBF. In this respect, on the 8th of the month, the infamous FTX founder SBF’s legal team moved forward and filed the motions to dismiss a few of the allegations raised against him. In their bold move, the lawyers requested the dismissal of up to ten charges faced by Bankman-Fried.

The cumulative number of allegations targeting him is 13. The dismissal of 10 out of the total charges would offer quite a relief to the notorious founder of FTX. His legal team, while substantiating their argument for the dismissal of the allegations, asserted that the respective charges were not clear as well as multiplicity-based.


In addition to this, the team also argued that, in a few instances, the respective allegations also infringe the extradition treaty according to which SBF was brought to the jurisdiction of the United States. Nonetheless, the prosecutors did not agree with the point of view presented by the defense lawyers. The prosecutors reacted to the motions submitted by SBF’s legal team and requested the discharge of the motions.

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In a couple of court filings submitted by the prosecutors on the 29th of May, they requested that the court should deny the requests made by Bankman-Fried. In this way, the prosecutor dismissed the arguments made by the FTX founder’s legal team. As per the prosecutors, the arguments pointed out by the defense lawyers were meritless, as mentioned in a filing.

As opposed to the claims raised by the defendant’s assertions that a few of the allegations remained unsuccessful in fulfilling the legal requirements. Apart from that, the prosecutors brought to the front that the allegations faced by SBF were raised in line with the established laws that operate within the jurisdiction of the US. They also added that Bankman-Fried’s alleged activities violated the respective laws therefore the charges were levied against him.

The prosecutors additionally disclosed that at the lawsuit’s pretrial phase, the dismissal cannot be carried out based on the specialty rule. The specialty rule shields someone extradited from experiencing the prosecution as well as the penalty external to which the extradition was carried out. The legal group of SBF raised the respective rule and argued that the additional allegations should be dismissed.

The respective allegations were filed on the 23rd of February and 28th of March this year. Prosecutors emphasized that no decision was made by them to carry out trial proceedings with the allegations submitted in February as well as March. Along with this, they added being engaged in getting the consent of the authorities in the Bahamas before moving forward with the allegations for the trial.

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SBF Does Not Have the Right to Invoke Specialty Rule, Prosecutors Claim

Moreover, the prosecutors postulated that SBF did not have the legal standing for invoking the specialty rule. In their words, the respective rule can just be invoked by the country doing the extradition. In this case, that authority is possessed by the Bahamas rather than the individual being extradited, as noted by the prosecutors.

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Mubashar Nawaz (United Arab Emirates)

Mubashar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

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