• Bankman-Fried’s attorneys are requesting a delay of his October 2 criminal trial, citing the need for more time to review evidence and prepare for the trial.
• The US District Judge has yet to decide on this request.
• In late February, four additional fraud and conspiracy charges were filed against Bankman-Fried, bringing the total number of counts to 12.
Delay Requested For SBF Criminal Trial
Bankman-Fried’s attorneys said Wednesday that a delay of his October 2 criminal trial may be necessary. Attorneys for SBF argued that additional time may be required to thoroughly review the evidence and prepare a defense for the upcoming trial. U.S. District Judge Lewis Kaplan has yet to decide on this request.
Additional Charges Filed Against FTX Founder
After Bankman-Fried’s crypto exchange failed in November and he was arrested in December, prosecutors filed further fraud and conspiracy accusations late last month, bringing the total number of counts to 12. This new charging document provides more context for the allegations of fraud against Bankman-Fried in connection with his failed cryptocurrency exchange FTX and linked hedge fund Alameda Research in late 2022.
Evidence Still Pending
Bankman-Fried’s attorneys wrote to U.S. District Judge Lewis Kaplan on March 8 that they weren’t formally requesting a date change at the moment, but that it might be necessary given that they were still waiting for a “substantial portion” of evidence to be turned over to them by prosecutors.
Civil Suits from CFTC & SEC
The Commodities Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have both filed civil lawsuits against the FTX founder for fraud; however, these trials have been postponed until after SBF’s criminal trial is concluded.
Conclusion
Given all pending matters related to Bankman-Fried’s case—including additional charges filed against him recently as well as evidence still awaiting delivery—it is likely that there will be some delay before his criminal trial can commence later this year as initially planned on October 2nd 2023
