1 year ago
Criminal charges that lawyers for Sam Bankman-Fried sought to dismiss, including technicalities astir his extradition backmost to the U.S. and run concern violations, are valid, prosecutors said successful court filings from Monday.
In aboriginal May, Bankman-Fried filed pretrial motions to disregard astir charges levied against him by U.S. prosecutors, with his defence arguing procedural issues, the irrelevance of immoderate U.S. laws fixed FTX's non-U.S. location, and that the charges exceeded the agreed extradition terms. The motions did not question to disregard securities fraud and wealth laundering charges.
With regards to Bankman-Fried’s statement that the Bahamas needs to o.k. immoderate charges anterior to extradition, prosecutors contended that the extradition pact with the Caribbean federation allows for post-extradition charges with the consent of the extraditing country, and immoderate charges presented post-extradition successful caller indictments bash not interruption this rule.
One of these charges, filed successful March, alleged that the erstwhile enforcement had violated the Foreign Corrupt Practices Act (FCPA) due to the fact that helium offered $40 cardinal to unnamed Chinese officials to person them to unfreeze accounts.
While Bankman-Fried argued allegations helium had committed commodity fraud are invalid due to the fact that it involves extraterritorial enforcement, U.S. prosecutors said the accusations should basal arsenic the interaction of FTX’s trades were felt successful crypto markets wrong the U.S.
On the allegations of run concern instrumentality usurpation – which halfway astir Bankman-Fried donating wealth successful the names of FTX executives – prosecutors said his arguments don't clasp up due to the fact that the indictment details precisely however helium worked to obscure the root of funds for donations.
The filing besides notes that the defence has requested much find documents, arguing that the FTX property "should beryllium considered portion of the 'prosecution team'" owed to its practice with the U.S. Department of Justice.
Bankman-Fried is owed successful a New York tribunal successful October.
Edited by Sandali Handagama.
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