After being found guilty of federal fraud charges on November 2, Sam “SBF” Bankman-Fried, the former CEO of FTX, has chosen not to submit any requests for further legal action following the trial.
In a December 1 letter to Judge Lewis Kaplan at the United States District Court for the Southern District of New York, Bankman-Fried’s legal team decided “not to file any post-trial motions.”
However, they have reserved the right to pursue claims on appeal. This update comes after SBF’s conviction on November 2, and he is currently awaiting sentencing scheduled for March 28.
It’s uncertain if prosecutors intend to proceed with the second trial for Bankman-Fried in March. The former FTX CEO’s legal case was divided, with 7 charges addressed in October and 5 scheduled for March.
However, given the guilty verdict in November, Bankman-Fried may be facing a lengthy prison sentence.
After the jury delivered its verdict, Bankman-Fried went back to the Brooklyn Metropolitan Detention Center. He’s anticipated to stay there until his sentencing. On the 30th, crypto blogger Tiffany Fong had a conversation with Gene Borrello, a former mob enforcer, who shared insights into SBF’s time in jail.
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