Former FTX CEO Sam Bankman-Fried, also known as SBF, requested a postponement of his sentence hearing, but the judge denied his request. Bankman-Fried’s defense attorneys argued that they needed more time to gather evidence and prepare for the pre-sentencing interview. They proposed new dates for disclosures related to the presentence investigation report. However, the defense had not received a response from the government and this was their first attempt to delay the hearing.
Judge Lewis Kaplan refused to change the timetable, noting that Bankman-Fried had already been granted one extension and the defense had not objected to the original date of sentencing. The prosecution alleged that Bankman-Fried participated in an unlawful campaign financing conspiracy, but those charges were dropped after the Bahamas refused to extradite him. Bankman-Fried’s attorneys argued that the sentence should start once those charges are settled.
Bankman-Fried was convicted on all counts related to fraud at FTX and Alameda Research. He pleaded not guilty and tried to distance himself from key decisions, blaming other executives. While he could face a maximum sentence of 110 years in prison, legal experts predict a lower term. The US Attorney for the Southern District of New York called Bankman-Fried’s offenses a multibillion-dollar scheme and one of the largest financial scams in American history.
Hot Take: Judge Denies Former FTX CEO Sam Bankman-Fried’s Request for Sentencing Postponement
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