Judge Refuses to Delay Sentencing of Ex-FTX CEO Bankman-Fried

Request for Sentencing Adjournment Rejected

Former FTX CEO Sam Bankman-Fried, facing numerous charges including fraud, has had his request for a postponed sentencing hearing denied. This decision came from Judge Lewis Kaplan, who emphasized the importance of adhering to the previously agreed upon schedule.

Bankman-Fried's legal representation had sought an additional four to six weeks, aiming to move the sentencing to May 2024. They cited the need for more time to gather necessary documents and prepare for a pre-sentencing interview scheduled for December 21. The current sentencing date remains March 28, 2024.

Charges and Previous Extensions

The defense argued that sentencing should wait until other unresolved charges, including foreign bribery and campaign finance violations, are addressed. These charges are set for trial on March 11, 2024. Judge Kaplan, however, highlighted that Bankman-Fried was already granted an extension on November 18 to prepare for sentencing.

The judge also noted that the March sentencing date was set without any objections from Bankman-Fried. The judge pointed out that Bankman-Fried had over six weeks to ready himself for the upcoming pre-sentencing interview.

Background and Future Proceedings

Convicted on November 2, Bankman-Fried faces a potential 110-year prison sentence for his role in the FTX and Alameda Research scandal. Legal experts, however, speculate that his actual sentence may be significantly less, potentially under 25 years.

Alongside Bankman-Fried, four other former executives of FTX and associated entities have entered guilty pleas. While they hope for leniency or no sentencing, their agreements do allow for sentencing. Notably, FTX DM co-CEO Ryan Salame has a sentencing date set for March 6, 2024.

Despite legal maneuvers, the swift and firm decision by the court underscores a broader accountability in high-profile financial misconduct cases.