U.S. Federal prosecutors in the Sam Bankman-Fried (SBF) have urged the court to proceed with all charges against the former FTX founder, stating that the FTX founder’s arguments to dismiss criminal charges are without merit.
In a nearly 100-page filing, prosecutors stated that these motions presented by SBF’s attorneys are without merit.
“The charges parallel the relevant statutes, and the defendant’s alleged conduct falls squarely within the scope of what these statutes prohibit,” the filing stated.
Disgraced SBF, the founder of FTX, has pleaded not guilty to charges that he defrauded investors and stole customer deposits from his crypto exchange to finance lavish real estate purchases, political donations, and risky trades at his cryptocurrency hedge fund trading firm, Alameda Research. U.S. Attorney Damian Williams states it is one of the largest forgeries in American history.
Prosecutors petition court to continue with all allegations
Previously, SBF’s attorneys argued that eight counts in the original indictment were too vague and non-specific to proceed to trial and that additional charges were prohibited by an extradition treaty between the U.S. and the Bahamas that forbade charges not approved at the time of extradition.
However, prosecutors have requested that all charges be allowed to proceed. They stated that the claims against the original charges were legally sufficient and that permission from the Bahamas is being sought to allow the newest charges.
Prosecutors wrote that the defendant’s use of misappropriated funds for political donations indicates his motivation for defrauding FTX’s clients and investors. , the defendant desired access to capital that he could use for political contributions to improve his image and the regulatory outlook for his business in the United States. This fall, a trial is anticipated to begin.
