Request to Delay Sentencing of Sam Bankman-Fried Denied by Judge
A request to delay the sentencing of Sam Bankman-Fried, the founder of FTX, has been rejected by Judge Lewis Kaplan. Bankman-Fried’s lawyers had requested an extension of four to six weeks, citing the possibility of a second trial on charges of bank fraud and conspiracy. The request was submitted a day before Bankman-Fried’s scheduled presentence interview with the U.S. Probation and Pretrial Services System, which recommends a prison sentence. However, Judge Kaplan denied the request, stating that sentencing would only be delayed if the U.S. government pursued a second trial. Bankman-Fried’s sentencing hearing is currently set for March 28.
Judge Notes Failure to Oppose Initial Dates
Judge Lewis A. Kaplan pointed out that Bankman-Fried’s camp did not oppose the initial dates after his fraud trial over FTX’s collapse. The request for release was also previously denied by the U.S. Court of Appeals for the Second Circuit. Bankman-Fried was found guilty on seven counts in November 2023, with prosecutors proving that he misused customer funds at FTX and Alameda Research. While detained, FTX continued with bankruptcy proceedings under new CEO John Ray III, causing controversy among claimants due to the repayment structure.
Hot Take: Sam Bankman-Fried’s Sentencing Proceeds as Request for Delay is Denied
The sentencing of Sam Bankman-Fried, founder of FTX, will proceed as scheduled after his request for a delay was rejected by Judge Lewis Kaplan. Bankman-Fried’s lawyers had sought additional time in light of potential future trials on bank fraud and conspiracy charges. However, Judge Kaplan noted that sentencing would only be delayed if there were plans for a second trial. Bankman-Fried’s sentencing hearing is currently set for March 28. The denial of the delay request follows previous denials for release and opposition to initial dates by Bankman-Fried’s camp. In the meantime, FTX continues its bankruptcy proceedings under new leadership.
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