Judge Rejects Sam Bankman-Fried’s Request for Adjournment
Sam Bankman-Fried, the former CEO of FTX, has had his request for a four-to-six-week adjournment of his sentencing hearing denied by U.S. District Judge Lewis Kaplan. The request aimed to delay Bankman-Fried’s presentencing interview and the subsequent sentencing hearing, both scheduled for March 28, 2024. Bankman-Fried, who was found guilty on seven charges in November, is facing a maximum sentence of 110 years in prison.
Defence Requests More Time
Bankman-Fried’s lawyer argued that the defence needed additional time to prepare for the presentencing interview and to handle potential charges dropped from the initial trial. They suggested that combining all relevant conduct in a single sentencing hearing would be fair and efficient.
Judge’s Decision
Judge Kaplan rejected the adjournment request, stating that the defence did not object to the original sentencing date when it was set. He noted that Bankman-Fried had already been granted an extension and had over six weeks to prepare for the presentence interview, which will proceed as scheduled. However, the judge acknowledged that sentencing could be delayed if the Department of Justice proceeds with a second trial on additional charges.
FTX Founder Found Guilty on Seven Counts of Fraud
In November, Sam Bankman-Fried was found guilty on all seven counts of fraud related to misusing billions in customer funds before FTX’s bankruptcy in 2022. Other key FTX executives have pleaded guilty to various charges and testified against Bankman-Fried during the trial. He has been detained since August after his bail was revoked.
Hot Take: Judge Denies Adjournment Request, Sentencing Proceeds
U.S. District Judge Lewis Kaplan has denied Sam Bankman-Fried’s request for an adjournment of his sentencing hearing. Despite the defence’s arguments for more time to prepare and handle potential charges, the judge stated that Bankman-Fried had already been given sufficient time and that the presentence interview would proceed as scheduled. The decision means that Bankman-Fried will face sentencing on March 28, 2024. However, if the Department of Justice proceeds with a second trial on additional charges, the sentencing could be further delayed. Bankman-Fried was found guilty on seven counts of fraud in November, marking a significant development in a high-profile crypto-related financial scandal.
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