Understanding the Two-Level Enhancement Dispute in Bankman-Fried's US Trial

📆 3/20/2024 8:45 PM
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Delve into the legal debate surrounding Sam Bankman-Fried's challenge to the two-level enhancement for financial institution-derived proceeds

USA v. Samuel Bankman-Fried Court Filing, retrieved on March 15, 2024 is part of . You can jump to any part in this filing . This part is 19 of 33. HackerNoon’s Legal PDF Series here E. The Enhancement for Deriving More Than $ Million in Gross Receipts From a Financial Institution Is Applicable The defendant argues against application of the two-level enhancement for obtaining more than $1 million in gross receipts from a financial institution as a result of the offense. .

Indeed, Silvergate Bank declared insolvency in March 2023, just a few months after the collapse of FTX, in significant part because the defendant’s misrepresentations exposed the bank to risks it might not have otherwise taken on. See Recent Bank Failures and the Federal Regulatory Response, Hearing Before the Committee on Banking, Housing, and Urban Affairs, 118th Cong .

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