Sam Bankman-Fried, the founder of FTX, has been granted the ability to contest additional charges in the United States after a judgment from the Bahamas Supreme Court.
The U.S. Prosecutors Sought to Add More Charges, Including Bank Fraud and Bribery
Sam Bankman-Fried, the founder of FTX, has been granted the ability to contest additional charges in the United States after a judgment from the Bahamas Supreme Court. Bankman-Fried, who pleaded not guilty to fraud charges after being extradited from the Bahamas, has been under legal scrutiny since his crypto exchange's collapse. The U.S. prosecutors sought to add more charges, including bank fraud and bribery, prompting Bankman-Fried to argue that he should have the right to challenge the additional charges before they are added to the charge sheet. The Bahamas Supreme Court granted him leave to commence proceedings for judicial review, stating that his claims have a real chance of success.
The judgment has caused a delay in adding the extra offenses until the legal process in the Bahamas is concluded. Previously, the Bahamas government argued that consenting to the U.S. request was a matter between sovereign states. The review process will be expedited, although the court does not want to pre-empt the findings. Bankman-Fried's lawyer stated that they intend to file an application for judicial review and continue pursuing legal rights in the Bahamas. However, the legal proceedings in the Bahamas could potentially extend beyond the planned October trial date in the U.S., causing concerns regarding the time available to prepare a defense against the additional charges.
