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Judge denies SBF’s request for sentencing delay

TL;DR

  • Ex-FTX CEO Sam Bankman-Fried’s request for sentencing delay denied by Judge Kaplan.
  • Bankman-Fried, facing seven charges, maintains innocence.
  • Sentencing continues as planned; possible second trial ahead.

In a recent development in the legal proceedings against former FTX CEO SBF, United States District Court Judge Lewis Kaplan has denied a request for a four- to six-week adjournment of his sentencing hearing. 

Following his trial in the Southern District of New York, this decision comes as SBF faces multiple charges, including wire fraud, securities fraud, and money laundering conspiracy.

The sentencing delay request denied

On December 20, 2023, lawyer Mark Cohen, representing SBF, submitted a letter to Judge Kaplan requesting a postponement of the presentencing interview scheduled for December 21, 2023, and the subsequent sentencing hearing set for March 28, 2024.

Cohen cited the need for additional time to prepare for the presentencing interview as the primary reason for the request.

The defense also pointed out that disclosures for the presentence investigation report were scheduled for January 5, 2024, and February 2, 2024. However, the government had not yet confirmed whether to proceed with a second trial on the severed charges against SBF. 

These five charges had been contested because they were not included in the original indictment, leading to SBF’s extradition from the Bahamas. If a trial on these severed charges were to take place, it would be scheduled for March 11, 2024, potentially necessitating a separate presentence investigation report and sentencing hearing.

Cohen argued for the consolidation of all relevant conduct into a single sentencing hearing, emphasizing the importance of fairness and efficiency in the legal process. The defense had reached out to the government to obtain consent for this approach but had not received a response. Notably, this was Bankman-Fried’s first request for an adjournment of the hearing.

However, Judge Kaplan ultimately decided not to modify the existing schedule. He pointed out that the defense had not raised objections to the sentencing date when it was initially set. Additionally, Bankman-Fried had already been granted one extension for filing sentencing submissions.

The judge clarified that Bankman-Fried could submit a new adjournment request if the government opted to proceed with a trial on the severed charges.

SBF legal battle

Sam Bankman-Fried’s legal troubles stem from his conviction on seven charges, including two counts of wire fraud, two counts of wire fraud conspiracy, one count of securities fraud, one count of commodities fraud conspiracy, and one count of money laundering conspiracy. These charges were brought against him following a trial that concluded on November 7, 2023.

Bankman-Fried consistently maintained his innocence throughout the legal proceedings, entering a plea of not guilty to all charges and continuing to do so even after the jury rendered its verdict.

Implications for Bankman-Fried

The denial of the adjournment request places Sam Bankman-Fried on track for his scheduled presentencing interview and subsequent sentencing hearing in March 2024. This decision underscores the significance of the legal proceedings he faces, which carry potential consequences that could significantly impact his future.

With the possibility of a second trial on the severed charges looming, Bankman-Fried and his legal team must continue their defense efforts and prepare for the legal challenges ahead.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Benson Mawira

Benson is a blockchain reporter who has delved into industry news, on-chain analysis, non-fungible tokens (NFTs), Artificial Intelligence (AI), etc.His area of expertise is the cryptocurrency markets, fundamental and technical analysis.With his insightful coverage of everything in Financial Technologies, Benson has garnered a global readership.

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