Judge Denies Bankman-Fried Bid to Delay Sentencing Process
A federal judge rejected Sam Bankman-Fried’s push to postpone deadlines related to his sentencing on FTX fraud convictions. The former CEO now faces the presentencing interview as scheduled.
In a Wednesday letter, Bankman-Fried’s defense team argued sentencing should be tabled pending potential additional charges tied to FTX’s demise that may proceed to a second trial.
“We submit that Mr. Bankman-Fried should not begin the sentencing process on the counts of conviction, including the presentence interview until the severed counts are resolved,” the letter said.
However, Judge Lewis Kaplan denied the extension request, saying the March 28th sentencing date was previously agreed upon.
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Bankman-Fried’s Presentence Interview to Move Forward
In his denial, Kaplan noted that the defense had over six weeks to prepare. He said that while a forthcoming trial could still delay final sentencing, the process will advance as planned for now.
That clears the way for the upcoming presentencing investigatory interview with probation authorities, who offer sentencing recommendations to the court.
Bankman-Fried faces up to 115 years in prison for his fraud and conspiracy convictions, which covered misuse of FTX customer and investor funds. Additionally, on November 7, Bankman-Fried was convicted on seven charges.
These include two counts of wire fraud, two counts of wire fraud conspiracy, one count of securities fraud, one count of commodities fraud conspiracy, and one count of money laundering conspiracy.
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Bankman-Fried entered a plea of not guilty to all charges and continued to assert his innocence following the jury’s verdict. For now, Kaplan’s refusal to halt immediacies keeps pressure on Bankman-Fried and his legal team as the disgraced entrepreneur confronts years behind bars over the epic crypto exchange collapse.
