Sam Bankman-Fried will not face a second trial, U.S. prosecutors say By Reuters
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© Reuters. FILE PHOTO: Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, leaves the Manhattan federal court in New York City, U.S. March 30, 2023. REUTERS/Amanda Perobelli/File Photo
NEW YORK (Reuters) – U.S. prosecutors said on Friday they do not plan to proceed with a second trial against Sam Bankman-Fried, who was convicted last month of stealing from customers of his now-bankrupt FTX cryptocurrency exchange.
In a letter filed in federal court in Manhattan, prosecutors said much of the evidence that would be offered at a second trial was already presented at the first trial, and there was a “strong public interest in a prompt resolution” of the matter.
Bankman-Fried is expected to be sentenced in March 2024.
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© Reuters. FILE PHOTO: Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, leaves the Manhattan federal court in New York City, U.S. March 30, 2023. REUTERS/Amanda Perobelli/File Photo
NEW YORK (Reuters) – U.S. prosecutors said on Friday they do not plan to proceed with a second trial against Sam Bankman-Fried, who was convicted last month of stealing from customers of his now-bankrupt FTX cryptocurrency exchange.
In a letter filed in federal court in Manhattan, prosecutors said much of the evidence that would be offered at a second trial was already presented at the first trial, and there was a “strong public interest in a prompt resolution” of the matter.
Bankman-Fried is expected to be sentenced in March 2024.
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