US Prosecutors Slam Sam Bankman-Fried’s Opposition to Criminal Charges

USprosecutors in court documentswhich were filed on Monday, opposed pre-trial motionsfiled by FTX’s Co-Founder Sam Bankman-Fried’s lawyers to dismiss a number of the13 charges against him. In one of the filingsthe prosecutors said the motions were “meritless.”

Prosecutors Stand by Charges

In late2022, Bankman-Fried was arrested in the Bahamas over the collapse of the now-bankruptcryptocurrency exchange, FTX. The arrest came after criminal charges were filedagainst him in the United States. Some of the charges include conspiracy to commit wire, bank andsecurities fraud, to operate an unlicensed money transmitting business, commitmoney laundering and make unlawful political contributions.

In March,prosecutors slammed the disgraced entrepreneur with an additional charge:conspiracy to violate the anti-bribery provisions of the Foreign CorruptPractices Act. He is alleged to have paid$40 million in bribes to Chinese officials to unfreeze certain accountsbelonging to FTX’s sister trading firm Alameda Research.

In earlyMay, Bankman-Fried lawyers filed pre-trial motions to dismiss several of the charges,including those related to conspiracy to commit wire fraud on FTX customers andAlameda lenders. However,the motions did not counter the securities fraud and money laundering charges against the former CEO of FTX.

Meanwhile, the lawyers argued that the indictment againstBankman-Fried include extra charges that run afoul of extraditionterms agreed with the Bahamas. Furthermore, the lawyers in one of the motions soughtto dismiss charges ofconspiracy to commit wire fraud, operate an unlicensed money transmittingbusiness, make unlawful political contributions and defraud the FederalElection Commission as well as violate the anti-bribery provisions of theForeign Corrupt Practices Act.

Opposingthese charges, they cited “the rule of specialty, or in the alternative, fordisclosure of additional discovery from the Government.” The discovery process is a pre-trial procedurethat allows parties in a lawsuit to gather information about the case from eachother.

However,reacting via its court’s latest filing, US prosecutors defended the charges.With regards to the extradition terms, they noted that they have not violated the terms as the agreementpermits extra charges post-extradition with the consent of the Bahamas.

Regarding the lawyers’ oppositionto charges of campaign finance law violation in which Bankman-Fried is accused of fraudulent political donationsthrough his former executives,prosecutors said their indictment contained enough details of attempts that the former FTX boss had made tohide the conduct.

Bankman-Fried’s trial is scheduled to start on October 2, 2023. In January, he pleadednot guilty to the chargesagainst him. The former crypto mogul could get up to 115 years in prison sentence ifconvicted.

Options’ Paris office; BidX’s new Liquidity Manager; read today’s news nuggets.

USprosecutors in court documentswhich were filed on Monday, opposed pre-trial motionsfiled by FTX’s Co-Founder Sam Bankman-Fried’s lawyers to dismiss a number of the13 charges against him. In one of the filingsthe prosecutors said the motions were “meritless.”

Prosecutors Stand by Charges

In late2022, Bankman-Fried was arrested in the Bahamas over the collapse of the now-bankruptcryptocurrency exchange, FTX. The arrest came after criminal charges were filedagainst him in the United States. Some of the charges include conspiracy to commit wire, bank andsecurities fraud, to operate an unlicensed money transmitting business, commitmoney laundering and make unlawful political contributions.

In March,prosecutors slammed the disgraced entrepreneur with an additional charge:conspiracy to violate the anti-bribery provisions of the Foreign CorruptPractices Act. He is alleged to have paid$40 million in bribes to Chinese officials to unfreeze certain accountsbelonging to FTX’s sister trading firm Alameda Research.

In earlyMay, Bankman-Fried lawyers filed pre-trial motions to dismiss several of the charges,including those related to conspiracy to commit wire fraud on FTX customers andAlameda lenders. However,the motions did not counter the securities fraud and money laundering charges against the former CEO of FTX.

Meanwhile, the lawyers argued that the indictment againstBankman-Fried include extra charges that run afoul of extraditionterms agreed with the Bahamas. Furthermore, the lawyers in one of the motions soughtto dismiss charges ofconspiracy to commit wire fraud, operate an unlicensed money transmittingbusiness, make unlawful political contributions and defraud the FederalElection Commission as well as violate the anti-bribery provisions of theForeign Corrupt Practices Act.

Opposingthese charges, they cited “the rule of specialty, or in the alternative, fordisclosure of additional discovery from the Government.” The discovery process is a pre-trial procedurethat allows parties in a lawsuit to gather information about the case from eachother.

However,reacting via its court’s latest filing, US prosecutors defended the charges.With regards to the extradition terms, they noted that they have not violated the terms as the agreementpermits extra charges post-extradition with the consent of the Bahamas.

Regarding the lawyers’ oppositionto charges of campaign finance law violation in which Bankman-Fried is accused of fraudulent political donationsthrough his former executives,prosecutors said their indictment contained enough details of attempts that the former FTX boss had made tohide the conduct.

Bankman-Fried’s trial is scheduled to start on October 2, 2023. In January, he pleadednot guilty to the chargesagainst him. The former crypto mogul could get up to 115 years in prison sentence ifconvicted.

Options’ Paris office; BidX’s new Liquidity Manager; read today’s news nuggets.

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