Indicted FTX founder Sam Bankman-Fried arrives at the US Courthouse in New York Metropolis, July 26, 2023.
Amr Alfiky | Reuters
Prosecutors have determined in opposition to pursuing a second trial in opposition to disgraced FTX founder Sam Bankman-Fried.
In November, a jury has discovered the previous FTX chief govt responsible of all seven prison counts in opposition to him.
Bankman-Fried, the 31-year outdated son of two Stanford authorized students and graduate of the Massachusetts Institute of Expertise, was convicted of wire fraud and conspiracy to commit wire fraud in opposition to FTX clients and in opposition to Alameda Analysis lenders, conspiracy to commit securities fraud and conspiracy to commit commodities fraud in opposition to FTX traders, and conspiracy to commit cash laundering.
He had pleaded not responsible to the costs, which have been all tied to the collapse of FTX and sister hedge fund Alameda late final yr.
The FTX founder faces greater than 100 years in jail. His sentencing listening to is about for March 28.
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