Tuesday, May 21, 2024

U.S. District Judge Lewis Kaplan has denied a request for adjournment made by Sam Bankman-Fried, the former CEO of FTX. The request, aimed at delaying Bankman-Fried’s sentencing hearing, was submitted by his attorney, Mark Cohen, of Cohen & Gresser. This decision maintains the current schedule for Bankman-Fried’s sentencing, which has significant implications in the high-profile case.
Judge Kaplan Upholds Bankman-Fried Sentencing Schedule
Sam Bankman-Fried’s legal team sought a four- to six-week delay in the sentencing hearing, initially scheduled for March 28, 2024. The defense argued that additional time was necessary to prepare for the presentencing interview slated for December 21 adequately.
Furthermore, the defense highlighted ongoing developments, including a potential second trial on severed charges not included in the original indictment that led to Bankman-Fried’s extradition from the Bahamas. These charges, if pursued, could result in a separate presentence investigation report and sentencing hearing.
Mark Cohen emphasized the need for a comprehensive sentencing hearing to address all relevant conduct for fairness and efficiency. However, the government had not yet responded to the defense’s request for consent to the adjournment.
Judge Kaplan’s decision to deny the adjournment request underscores the court’s commitment to maintaining the established legal schedule. In his ruling, Kaplan pointed out that the defense did not object to the initial sentencing date and noted that Bankman-Fried had already been granted an extension for filing sentencing submissions.
The denial means that Bankman-Fried’s presentencing interview will proceed as planned, keeping the March 2024 sentencing hearing on track. However, Kaplan left the door open for a potential new adjournment request should the government decide to proceed with a trial on the severed charges.
Bankman-Fried, who was found guilty of seven charges, including wire fraud, securities fraud, and money laundering conspiracy, has maintained his innocence throughout the proceedings. The decision by Judge Kaplan adds another layer to the complex legal narrative surrounding the former FTX CEO and his fall from grace in the cryptocurrency world.
The Road Ahead in Bankman-Fried’s Legal Battle
As the legal saga continues, the focus has shifted to the upcoming dates in the judicial calendar. The defense team faces the challenge of preparing for the presentencing interview amid uncertainties regarding the potential second trial on the severed charges. These developments are pivotal and could significantly influence the final sentencing decision.
The government’s stance on pursuing a trial for the additional charges remains crucial. Should they opt to move forward, it could lead to a reassessment of the current schedule and a new request for adjournment by Bankman-Fried’s legal team. This scenario would introduce further complexities into an already intricate legal case.
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The post Sam Bankman-Fried’s Bid for Sentencing Adjournment Denied appeared first on CoinGape.

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