Sam Bankman-Fried's Trial May Not be Held
Entrepreneur and former FTX CEO Sam Bankman-Fried, who has been charged with fraud, is desperate to get away with it. The "Trial of the Century" for Bankman-Fried, scheduled for October, will not be held.
Judge Lewis Kaplan unexpectedly announced his intention to go along with the defendant's attorneys and give them more time to review the evidence against him. The delay could last five months. Kaplan said he could hold the scheduled October and March hearings on the same day.
The crypto community is closely following the investigation and awaiting the trial of the former FTX CEO, whose fraudulent actions led to the destabilisation of the entire cryptocurrency market.
To recap, in November 2022, one of the largest crypto exchanges at the time, FTX, declared bankruptcy when details of Bankman-Fried's embezzlement of user and creditor funds came to light. His actions also led to the collapse of many cryptocurrency companies. Since then, the disgraced entrepreneur has often made media headlines. Read about what is happening with the exchange now in our article.
In December 2022, Bankman-Fried was arrested in the Bahamas and extradited to the United States. He went on trial the following month, denying his guilt. Many expected Bankman-Fried to be imprisoned for years because of his scamming business activities. However, he was already out on bail in February 2023.
In August, the entrepreneur was accused of falsifying witness statements and was again taken into custody. But it seems that Sam Bankman-Fried is not going to give up so easily.
Last week, he complained that he is being fed on bread and water. And his attorneys are desperately trying to argue that falsifying statements is not a crime at all. They also asked Kaplan to release Bankman-Fried on weekdays, but the judge denied the request.
Those who have been following the story closely are certain that the request for a delay to review the evidence is necessary for the Bankman-Fried team to develop a strategy. Kaplan is also confident that reviewing the evidence will do nothing, and the delay will be provided so that the attorneys can demonstrate a "genuine and unanticipated need."
All of these, along with Bankman-Fried's publication of his accomplice Caroline Ellison's personal diaries, speaks of dirty and brazen play by the former FTX CEO. And he's not hiding it.
He doesn't respect the criminal judicial system and thumbs his nose up at it every step of the way. Keep him right where he is at.
— (💙,🧡) Rossi Rosario (@Mp24Rossi) August 31, 2023
