US prosecutors mentioned on Friday they don’t plan to proceed with a second trial towards Sam Bankman-Fried, who was convicted final month of stealing from prospects of his now-bankrupt FTX cryptocurrency trade.
In a letter filed in federal court docket in Manhattan, prosecutors mentioned the robust public curiosity in a immediate decision of the case outweighed the advantages of a second trial.
They mentioned that curiosity “weighs significantly closely right here,” provided that Bankman-Fried’s scheduled March 2024 sentencing will seemingly embrace orders of forfeiture and restitution for victims of his crimes.
It additionally mentioned a lot of the proof that might be supplied at a second trial was already offered on the first trial.
Legal professionals for Bankman-Fried didn’t instantly reply to requests for remark.
Jurors on Nov. 2 convicted Bankman-Fried on all seven counts he confronted, after prosecutors accused him of looting $8 billion from FTX prospects out of sheer greed.
The decision got here almost one yr after FTX filed for chapter, in a meltdown that shook markets and erased Bankman-Fried’s once-$26 billion private fortune.
