According to Business Insider, former New York Police Department official Carmine Simpson, who was imprisoned with SBF, wrote a letter to US District Judge Lewis Kaplan on behalf of SBF requesting leniency. Kaplan will sentence SBF on March 28th. He was convicted of seven counts of fraud and conspiracy last November. It is reported that SBF still adheres to a vegetarian diet in prison, but the food conditions are poor. Simpson wrote in the letter: "Although Sam (SBF) eats 12 out of 14 meals of uncooked rice, a spoonful of disgusting-looking beans, and a week-old lettuce, he has always kept his promise not to abuse animals." Simpson said that he was initially skeptical of SBF's motives, but changed his mind after spending time with him. He wrote: "When he (SBF) first told me that the main reason he worked so hard to become a successful and wealthy person was to donate all his money to noble causes and people in need, to be frank, I thought he was lying to me. But soon I came to the conclusion that Sam is the most selfless person I have ever met. If Sam Bankman-Fried is released from prison, the world will be much better." Simpson added that he expects the judge will not take his letter seriously because he himself is facing criminal charges.
The founder of bankrupt cryptocurrency exchange FTX, SBF, will appear in court again this Wednesday, marking his first appearance since being convicted of fraud in November. The Manhattan court will hold a hearing on the potential conflict of interest of his new lawyer.
Former English Premier League football club owner and billionaire Joe Lewis, who sold a property in the Bahamas worth over $76 million to FTX exchange founder Sam Bankman-Fried, will plead guilty to 19 counts of fraud, as reported by the Financial Times.
A second trial for Sam Bankman-Fried would not affect his sentencing range, according to the U.S. Department of Justice.
The U.S. government dropped six additional charges against SBF, including illegally supporting political elections and bribing officials.
On December 30th, the US federal prosecutors informed Judge Lewis Kaplan, who presides over the SBF case, in a letter on Friday that SBF will not face a second trial due to additional charges. The prosecutors stated that most of the evidence that would have been presented in the second trial had already been presented in SBF's initial trial, and the judge can consider this evidence in the sentencing on March 28th. The dismissal of charges is aimed at avoiding delays in sentencing due to a second trial, and the federal government believes that this will help to resolve the case in a timely and fair manner.
Sam Bankman-Fried, the founder of FTX, will not face a second criminal trial as federal prosecutors have decided to proceed to sentencing on the counts for which he was convicted in his first trial. The government's lawyers argued that a second trial would delay a timely and just resolution of the case and that the original case had already provided ample evidence of Bankman-Fried's financial crimes. Bankman-Fried was found guilty of seven counts of wire fraud, securities fraud and money laundering in November and will be sentenced in March 2024, facing a maximum prison sentence of over 100 years.
David Mills, the defense lawyer representing SBF in the FTX fraud case trial, expressed frustration and disappointment, stating that SBF was the most challenging client he had ever encountered. Mills admitted that the trial's outcome was unfavorable to the former CEO, and that the legal challenges and complexities surrounding the case made it difficult for the defense to obtain a favorable outcome. Despite acknowledging shortcomings in SBF's handling of cross-examination, Mills believed that even if his performance had improved, it would not have changed the trial's outcome. The jury ultimately found the former executive guilty of embezzling billions of dollars from FTX customers within a few hours.
According to IBTimes report, the lawyer of FTX founder Sam Bankman-Fried (SBF) stated in a letter to Judge Lewis Kaplan on December 1st: "After further consideration, SBF and his lawyers have decided not to make any post-trial motions, but reserve the right to make any claims in appeal."
Former FTX CEO Sam Bankman-Fried Chooses Not to File Post-Trial Motions, Focus Shifts to Sentencing and Potential Second Trial
Sam Bankman-Fried, the ex-CEO of FTX, has decided not to file any post-trial motions and his legal team may pursue claims on appeal after his conviction on seven federal fraud charges. His sentencing is scheduled for March 28, and there is uncertainty about the prosecution's plans for a second trial initially slated for March. Bankman-Fried's incarceration has become a focus in the crypto community's ongoing legal narrative, highlighting the increasing legal scrutiny facing prominent figures in the cryptocurrency industry.
KOL Tiffany Fong recently interviewed Gene Borrello, a prisoner at the former Brooklyn Metropolitan Detention Center (MDC), who revealed that SBF was a target for extortion during his pretrial detention at MDC due to his "timid personality" and "almost 80-year-old physique." Borrello said that there were prisoners who tried to scare SBF in order to extort protection money. Borrello also remembers that when he talked with SBF, SBF was very timid and nervous. (Cointelegraph)