Sam Bankman Fried will not be tried separately, prosecutors decided
In a letter filed in federal court in Manhattan, prosecutors said the strong public interest in a speedy disposition of the case outweighs the benefits of a second trial. He said Bankman-Fried's scheduled sentencing in March 2024 will include a forfeiture and restitution order for the victims of her crimes.
Bhavika Nandwana
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US prosecutors said Friday they do not plan to proceed with another case against Sam Bankman-Fried. He was convicted last month of stealing from customers of the now-bankrupt FTX cryptocurrency exchange.
In a letter filed in federal court in Manhattan, prosecutors said the strong public interest in a speedy disposition of the case outweighs the benefits of a second trial. He said Bankman-Fried's scheduled sentencing in March 2024 will include a forfeiture and restitution order for the victims of her crimes.
The court also said that most of the evidence to be presented in the second trial had already been presented in the first trial. Bankman-Fried's attorneys did not immediately respond to requests for comment on the case. On November 2, a jury convicted Bankman-Fried of all seven charges he faced, as prosecutors accused him of greedily robbing $8 billion from FTX clients.
The decision comes nearly a year after FTX filed for bankruptcy, which shook the markets and wiped out $26 billion of Bankman-Fried's personal fortune.
