Former FTX CEO Sam Bankman-Fried will not have a second trial, according to prosecutors.
The news comes as charges against Bankman-Friend for political campaign finance violations were previously dropped.
“The Government respectfully submits this letter to provide notice to the Court and the defendant that it does not plan to proceed with a second trial,” a letter from prosecutors to Judge Lewis Kaplan reads.
“[M]uch of the evidence that would be offered in a second trial was already offered in the first trial and can be considered by the Court at the defendant’s March 2024 sentencing,” the letter adds. “Given that practical reality, and the strong public interest in a prompt resolution of this matter, the Government intends to proceed to sentencing on the counts for which the defendant was convicted at trial.”
Bankman-Friend was charged, according to the letter, with “two counts of conspiracy to commit wire fraud, two counts of wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, and conspiracy to commit money laundering.”
“Count Eight of the Original Indictment charged the defendant with conspiracy to make unlawful campaign contributions,” the letter noted, although Bankman-Fried will not be prosecuted for the charge.
The decision not to prosecute Bankman-Fried for campaign contribution violations has been criticized, as it will remain unknown “which politicians he bribed or who’s campaigns he influenced,” according to Representative Tim Burchett (R-TN).
“That collective sigh of relief you are hearing is from the DEEP STATE,” Burchett added.
So we won’t know which politicians he bribed or who’s campaigns he influenced? That collective sigh of relief you are hearing is from the DEEP STATE. https://t.co/8eEkYI869b
— Tim Burchett (@timburchett) December 30, 2023
