Sam Bankman-Fried seeks to have charges dropped against him
The FTX founder is accused of fraud, money laundering, and misappropriation of customer funds.
The FTX founder is accused of fraud, money laundering, and misappropriating customer funds. Now Sam Bankman-Fried is calling for the charges against him to be dropped. At least, that’s what his lawyers asked the judge to do.
According to the filed document, the multiple charges against SBF were a "snapshot" by prosecutors. Specifically, it states: "Instead of waiting for the traditional civil and statutory procedures, the government leapt in with both feet and tried to turn these civil and legal issues into federal crimes."
The charges against the FTX founder include several counts, most related to fraud and money laundering. SBF is also alleged to have used stolen funds (customer deposits) to finance the Democratic campaign; he was the second-largest donor.
If convicted by the court, Bankman-Fried could face more than 100 years in prison. He is currently under house arrest and under strict supervision. The normal start of the trial is planned for early October. However, it remains unclear whether the judge will consider dropping the charges against Bankman-Fried.
