Home » The U.S. Justice Division Awaits Bahamas Response Relating to New Fees In opposition to Sam Bankman-Fried

The U.S. Justice Division Awaits Bahamas Response Relating to New Fees In opposition to Sam Bankman-Fried

by CoinVeem

Sam Bankman-Fried. Supply: a video screenshot, Forbes / YouTube

The US Justice Division (DOJ) could drop a few of the prices towards the disgraced former FTX CEO Sam Bankman-Fried if authorities within the Bahamas objects to them.

The costs that may very well be dropped embody these associated to financial institution fraud, working an unlicensed cash transmitting service, and a case of bribery of a Chinese official, court docket documents filed on Monday exhibits.

The explanation given for why some prices may very well be dropped if Bahamas objects to them is that they may violate the phrases of Bankman-Fried’s extradition since they weren’t included within the unique indictment that served because the authorized foundation for Bankman-Fried’s extradition to the US.

The previous FTX boss was arrested in the Bahamas in December of 2022, and shortly after extradited to the United States beneath a particular settlement between the 2 international locations.

In line with the settlement, people who’re extradited can solely be tried and punished for crimes that the extraditing nation – on this case the Bahamas – has agreed to.

In the meanwhile, US federal prosecutors are nonetheless ready to listen to from Bahamian authorities on whether or not they can get a waiver from the rule with the intention to strive Bankman-Fried on the fees which have been introduced into the case after his extradition.

If Bahamian authorities don’t consent, prosecutors made it clear within the new court docket submitting that they won’t pursue the extra prices.

“The federal government will proceed on the brand new prices […] if The Bahamas consents to trial on these prices, and won’t proceed on these counts if The Bahamas denies the Authorities’s request,” the prosecutors mentioned.

A court docket listening to on the movement to dismiss the extra prices is scheduled for June 15, whereas Bankman-Fried’s trial is predicted to start on October 2.

The previous change CEO might face over 100 years in prison if convicted on all prices.

He has beforehand admitted errors throughout his time as the pinnacle of FTX, however has denied any legal legal responsibility.

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