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Sam Bankman-Fried, founder of FTX, has successfully temporarily blocked the addition of new charges in a US indictment. A Bahamian judge prevented the country’s prosecutor from approving new charges.
The Current State of the Sam Bankman-Fried Case
The founder of FTX achieved a significant victory with the approval of a court decision in the Bahamas that blocked the government from approving new charges. Authorities had added certain bribery and campaign finance charges after his extradition to New York.
The proposed argument was that the new charges were not included in the extradition agreement from the Bahamas. This new development could delay the case in the US and is likely to increase the drama in the SBF saga, with a resolution not expected soon. SBF is currently out on $250 million bail.
FTX Founder Refused Proposal to Step Down
It has been a popular topic in crypto circles that the prosecutors in the SBF case have had a lot to say recently. They stated a short time ago that the founder’s proposal to deny the charges was unjust. SBF did not accept the 13 charges ranging from fraud to conspiracy. The prosecutors made the following statement on the subject:
The indictment sufficiently alleges that the defendant and his accomplices made false and misleading statements to lenders about Alameda’s financial situation. No further details are needed.
At the same time, there continues to be some doubt about when the case will close. His lawyer stated that the case in the Bahamas could last for months or even years if these new complexities are added.
FTX Allowed to Hide Customer Names
Meanwhile, FTX has obtained an authority from the court to remove customer names from all files in the bankruptcy case. It is argued that this would expose the persons in question to the risk of fraud and identity theft.
There is ongoing pressure among media organizations to gain access to the list. The authority to remove all customer names may undoubtedly cause some disappointments for media organizations seeking access.
