The US Justice Department (DOJ) is considering dropping certain charges against Sam Bankman-Fried, the former CEO of FTX, if the Bahamas objects to them, according to court documents filed on Monday.Â
Bank fraud, running an unauthorized money-transfer agency, and bribery of a Chinese official are among the allegations that might be withdrawn.
This prospective action is motivated by the fact that these accusations were not included in the initial indictment that served as the foundation for Bankman-Fried’s extradition from the Bahamas to the United States. Dropping them would ensure that the conditions of the extradition agreement were followed.
Bankman-Fried was caught in the Bahamas in December 2022 and later deported to the United States under a special agreement between the two countries. Individuals can only be tried for offenses authorized by the extraditing nation, in this example, the Bahamas, according to the agreement.
Federal prosecutors in the United States are currently seeking a response from Bahamian authorities on a waiver from this rule, which would allow them to pursue the extra charges. However, prosecutors have said that if permission is not provided, they will not pursue these accusations.
A hearing on the application to dismiss the extra charges is planned for June 15, with Bankman-Fried’s trial beginning on October 2. If convicted on all allegations, the former FTX CEO could face a sentence of more than 100 years in jail.
Bankman-Fried has admitted to making mistakes during his time at FTX, but he maintains his innocence of any criminal activity.
Also Read: Shocking Twists! FTX Founder, Bankman-Fried Blames Lawyers
