US Judge Denies Delay in Sentencing Former FTX CEO Sam Bankman-Fried
A US federal judge, Lewis Kaplan, has rejected a request to postpone the sentencing of Sam Bankman-Fried, the former CEO of bankrupt crypto exchange FTX. Bankman-Fried’s lawyers had asked for the rescheduling of the sentencing from March 28 to “early-mid May 2024.” However, the judge refused and insisted that there is sufficient time for the defense to prepare.
Bankman-Fried is set to have a pre-sentence interview with the US Probation and Pretrial Services System, which will recommend a sentence, on Thursday. His lawyers argued that they need more time to gather materials for the sentencing submission and prepare for the interview.
Additionally, Bankman-Fried is still facing another trial starting on March 11 related to allegations of bank fraud and bribery of Chinese government officials.
Judge Rejects Defense’s Request
Judge Kaplan pointed out that the defense had not previously objected to the sentencing date and emphasized that Bankman-Fried has already had six months to prepare for the pre-sentencing interview. He stated that one extension had already been granted for the filing of sentencing submissions.
In November, Bankman-Fried was found guilty by a jury of defrauding FTX customers and investors. The trial exposed a significant misuse of customer funds, leading to FTX filing for bankruptcy.
Hot Take: Bankman-Fried Denied Sentencing Delay
The request to delay Sam Bankman-Fried’s sentencing has been denied by US Judge Lewis Kaplan. Despite arguments from his lawyers about needing more time to prepare, Kaplan emphasized that there is already enough time available for the defense. Bankman-Fried is scheduled for a pre-sentence interview, and he is also facing another trial related to bank fraud and bribery charges. The former CEO of FTX was found guilty of defrauding customers and investors, which led to the exchange’s bankruptcy. With the sentencing process moving forward, Bankman-Fried will soon face the consequences of his actions.
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