DOJ Requests Trial Extension for FTX Co-Founder Sam Bankman-Fried
The U.S. Department of Justice (DOJ) has asked Judge Kaplan to extend the trial date for Sam Bankman-Fried, co-founder of FTX. The trial is set to begin on October 3, but prosecutors believe that more days are necessary in the first week to ensure witness hearings and maintain an efficient pace.
Prosecutors Seek Additional Trial Dates
In a court filing on September 19, Damian Williams, the US Attorney for the Southern District of New York, sent a letter to Judge Kaplan requesting an extension of the first week of the trial. The jury selection is expected to take up most of October 3, leaving only two trial days before the Columbus Day holiday on October 9. Therefore, the DOJ is asking the judge to include October 6 as part of the first week.
The government also wants to ensure that out-of-town witnesses are able to travel and be present during the first week of the trial. Additionally, they do not want these witnesses to remain in New York for an additional five days.
The DOJ believes that adding another day will help maximize the jury’s time, accommodate witnesses’ travel schedules, and maintain an efficient trial pace. However, the defense has opposed this request in order to have more time to prepare for trial.
Sam Bankman-Fried Seeks Release Before Trial
Sam Bankman-Fried, who was previously put in jail due to witness tampering, had his bail revoked by Judge Kaplan. His attorneys and prosecutors will present their arguments regarding potential bail for Bankman-Fried before a three-judge panel of the 2nd U.S. Circuit Court of Appeals on Tuesday.
In a separate lawsuit, FTX has filed against Bankman-Fried’s parents, Allan Joseph Bankman and Barbara Fried. The aim of the lawsuit is to recover millions of dollars in fraudulently transferred and misappropriated funds that occurred during FTX’s early years.
Hot Take: DOJ Seeks Extension for FTX Co-Founder Sam Bankman-Fried’s Trial
The U.S. Department of Justice has requested an extension for the trial of Sam Bankman-Fried, co-founder of FTX. The DOJ believes that additional days are needed in the first week to accommodate witness hearings and maintain an efficient trial pace. However, the defense opposes this request. Meanwhile, Bankman-Fried’s bail has been revoked due to witness tampering, and his attorneys and prosecutors will present their arguments for potential bail before a three-judge panel. Additionally, FTX has filed a lawsuit against Bankman-Fried’s parents to recover funds that were fraudulently transferred and misappropriated during FTX’s early years.
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