Prosecutors argued against the necessity of a second trial for FTX founder Sam Bankman-Fried, contending that the additional charges not addressed in the cryptocurrency fraud case, for which he was convicted in November, do not warrant a separate proceeding. In a letter to U.S. District Judge Lewis A. Kaplan on Friday, prosecutors asserted that conducting a second trial would entail duplicating evidence already presented to the jury, emphasizing the “strong public interest in a prompt resolution” of the case.
The prosecutors conveyed to Judge Kaplan that a second trial could hinder the swift administration of justice, particularly as victims may not benefit promptly from forfeiture or restitution orders if sentencing is delayed. They suggested that the evidence for the additional charges could be considered during Bankman-Fried’s sentencing, scheduled for March 28, where he faces charges of defrauding customers and investors of at least $10 billion.
Bankman-Fried, 31, who has been in custody since weeks before the trial, was convicted in November on seven counts, including wire fraud, wire fraud conspiracy, and three conspiracy charges, potentially resulting in a lengthy prison sentence.
Earlier in the proceedings, prosecutors withdrew some charges against Bankman-Fried, explaining that these charges had not been approved as part of his December 2022 extradition from the Bahamas. Despite the temporary dropping of charges, prosecutors had indicated their intent to reintroduce them in a second trial, potentially slated for 2024.
In the recent letter to Judge Kaplan, prosecutors highlighted that evidence related to the temporarily dropped charges had already been presented during Bankman-Fried’s month-long trial. Notably, authorities in the Bahamas have not responded to the prosecutors’ request to pursue the additional charges in a second trial.
Bankman-Fried’s lawyer declined to comment on the matter, and prosecutors clarified that a conviction on the additional charges would not extend the potential prison sentence for Bankman-Fried. Emphasizing the public’s interest in a timely and just resolution, prosecutors urged proceeding with the sentencing in March 2024 without the delays associated with a second trial.
