Bankman-Fried loses bid to toss criminal charges

📆 6/28/2023 1:38 AM
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Bankman-Fried loses bid to toss criminal charges FMTNews FMTWorld

Cryptocurrency entrepreneur Sam Bankman-Fried in May asked the judge to dismiss at least 11 of the 13 fraud and conspiracy charges he faced.

Prosecutors accused Bankman-Fried of stealing billions of dollars in FTX customer funds to plug losses at his Alameda Research hedge fund. Bankman-Fried in May asked Kaplan to dismiss at least 11 of the 13 fraud and conspiracy charges he faced. “The defendant’s assertion that the indictment does not allege any ‘economic loss’ to FTX customers appears to be factually incorrect,” and the alleged misappropriated funds clearly constituted property, Kaplan wrote.Bankman-Fried also argued that some charges were improperly brought without consent from the Bahamas, where he was arrested in December and extradited to the US.

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