Monday, April 22, 2024

Sam Bankman-Fried’s request to postpone sentencing till Could 2024 denied

Former FTX CEO Sam Bankman-Fried has been denied an adjourned sentencing listening to, in keeping with a court docket submitting dated Dec. 20.

Bankman-Fried’s authorized workforce requested the sentencing listening to to be adjourned for 4 to 6 further weeks, which might postpone sentencing into Could 2024. Bankman-Fried’s sentencing date is presently set for March 28, 2024.

Legal professionals said that Bankman-Fried’s protection wants further time to gather supplies wanted for the sentencing submission and to arrange for an upcoming pre-sentencing interview that’s scheduled for Dec. 21.

Legal professionals moreover argued that the sentencing course of mustn’t start till different prices omitted from Bankman-Fried’s earlier trial are resolved. These prices, partly, contain allegations of overseas bribery and marketing campaign finance violations and shall be addressed in a trial scheduled for March 11, 2024.

Choose Lewis Kaplan denied the request. He famous that Bankman-Fried has already been granted one extension to offer extra time to file sentence submissions. That request was granted on Nov. 18, in keeping with previous experiences.

Choose Kaplan additionally said that the present sentencing date was set with out objection from the defendant. He added that Bankman-Fried has had greater than six weeks to arrange for the pre-sentencing interview set to happen Thursday.

SBF was convicted in November

Bankman-Fried was convicted on Nov. 2 of all counts associated to fraud and different crimes at FTX and its sister agency, Alameda Analysis.

Although Bankman-Fried faces a most sentence of 110 years in jail, many authorized consultants consider he’ll obtain a significantly shorter sentence. Some estimates counsel that he would possibly serve lower than 25 years in jail.

4 different former executives at FTX and associated corporations have additionally reached responsible pleas with U.S. prosecutors. Although these executives reached plea offers with the intent of receiving lenient or no sentencing, every deal partially permits for sentencing. Solely FTX DM co-CEO Ryan Salame is thought to have a sentencing date at current; his sentencing listening to is ready for March 6, 2024.

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