Criminal charges against FTX co-founder Sam Bankman-Fried have been split: The former CEO is now facing two separate trials for his alleged mismanagement of the cryptocurrency exchange.
Bankman-Fried faces a total of 13 charges related to fraud, fraud conspiracy and bribery.. The trial on all charges was scheduled to begin on October 2.
Five of those charges will now be split in a second trial on March 11, 2024.according to a failed June 15 from Judge Lewis Kaplan of the United States District Court.
Originally, the FTX founder was extradited to the United States in December 2022 on eight counts.; new indictments added another five counts in February and March 2023.
The division of charges comes after DOJ prosecutors requested a waiver from Bahamian authorities to try Bankman-Fried on the five additional charges imposed on him following his extradition from the country..
Lawyers for the FTX co-founder sought to dismiss those charges, arguing that he could not be tried on charges made after extradition..
The new trial, to be held in March, will focus on charges of bribery conspiracy, conspiracy to operate an unlicensed money transfer business, bank fraud conspiracy, and securities and derivatives fraud..
The other charges relate to various frauds and conspiracies, derivatives and securities allegedly carried out at FTX and Alameda Research.along with accusations of money laundering.
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