Sam Bankman-Fried Blocks New Charges in US Indictment

In Brief

• FTX Founder Sam Bankman-Fried Blocks New Charges With Bahamian Court Order.
• Prosecutors argue against SBF's bid to dismiss charges, and a case closure date remains uncertain.
• FTX was allowed to redact customer names in its bankruptcy case in order to protect them from becoming targets of scammers.
  

FTX founder Sam Bankman-Fried has temporarily blocked the addition of new charges in his indictment. A Bahamian judge blocked the approval of new charges.
Sam Bankman-Fried has managed to temporarily block the addition of new charges in his United States indictment. A Bahamian judge blocked the country’s attorney general from approving new charges.

Sam Bankman-Fried Gets Judge to Block New Charges
The FTX founder won a court order in the Bahamas that blocked the government from approving the new charges. The authorities added specific bribery and campaign finance charges after his extradition to New York.

The downfall of Sam Bankman-Fried, once considered the poster boy of crypto, was triggered by the collapse of FTX. Discover the reasons behind the exchange’s meltdown in our comprehensive guide here:

The argument made was that the new charges were not included in the agreement to return from the Bahamas. There is some discussion that this new development could delay the case in the U.S. It will add to the drama in the SBF saga, which may not see a resolution very soon. SBF is currently out on a $250 million bond.

Prosecutors Slam FTX Founder’s Dismissal Bid
Prosecutors in the SBF case have also had a lot to say in recent times. They recently stated that the founder’s bid to dismiss charges is meritless. SBF has pleaded not guilty to 13 counts, which span from fraud to conspiracy. The prosecutors explained,

“The Indictment sufficiently alleges that the defendant and his co-conspirators made false and misleading representations to lenders relating to Alameda’s financial condition. No more specificity is required.”

t the same time, there is some doubt regarding when the case will close. His counsel has revealed that Bahamas litigation may take months or years if those extra charges were added.

FTX Allowed to Redact Customer Names
Meanwhile, FTX has received court authorization to remove customers’ names from all filings in the bankrupt case. The argument is that it would put said people at risk of scams and identity theft.

There has been a push among media outlets to gain access to the list. The authorization to redact all customer names will no doubt cause some frustration for media outlets seeking access.

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