Sam Bankman-Fried Requesting the Court to Dismiss Charges Over FTX Fallout
On May 8, the legal team representing FTX founder Sam Bankman-Fried (SBF) urged the court to dismiss the criminal charges against their client. The lawyers submitted their claims to the Southern District Court in New York, seeking the jury handling the matter to drop ten charges against SBF.
In their report, the lawyers requested the court to retain the three charges involving conspiracy to commit fraud, securities violation, and engagement in money laundering activities. They argued that after the fallout of the Bahamian crypto exchange, the prosecutors were in a rush for judgment.
As a resulted the prosecutors failed to observe critical elements in the traditional civil and regulatory procedures before submitting the SBF case for legal action.
Lawyers Urges the Court to Drop Sam Bankman-Fried Court Charges
In a separate report from crypto analyst Molly White illustrated that most of the charges battling SBF were added during extradition. White highlighted on the multiple court extradition subjected to SBF.
At the beginning of the court proceeding SBF was extradited from the Bahamas to appear for arraignment on eight charges concerning fraud and money laundering. Afterward, the court added extra charges against SBF in February.
Among the latest court charges against SBF was a conspiracy to engage in bank fraud. SBF is also accused of engaging in wire transfers linked to the bankrupt crypto exchange FTX and the sister company Alameda Research.
The additional four charges submitted by the court created mixed signals among SBF lawyers. In their submission, the lawyers questioned the court action against SBF, which failed to conform with the specialty regulation under the Treaty Rule.
Will the Court Dismiss Sam Bankman-Fried Criminal Charges?
Citing the rule of specialty, the lawyers urged the court to take potential action against SBF for the main charges. They added that the court conformed with the specialty requirements at the initial extradition proceedings.
Besides withdrawing the four charges, SBF lawyers requested the court to do away with charges related to defrauding American citizens. They argued that the authority lacked sufficient evidence concerning SBF’s involvement in defrauding the public and engaging in wire transfers.
Furthermore, the lawyers urged the prosecutors at the US court to review the SBF court filing and obtain information that can be used to defend their client. They lamented that the prosecutor only requested data that supported their evidence against SBF.
Responding to the SBF attorney’s request, Judge Lewis Kaplan scheduled June 15 for the next court hearing. Judge Kaplan urged the prosecutors handling the SBF case to provide their responses concerning the attorney dismissal claims before May 29.
While other FTX top executives have pledged to work closely with the prosecutors, SBF has pleaded not guilty to the 13 charges. Last December, SBF was forced to undergo house arrest at his parent’s house in Paolo Alto.
Nonetheless, after numerous court processions, Judge Kaplan was obliged to allow SBF to communicate with his parents on the mobile phone.
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