NewsletterBreaking: SBF Attempts To Flee 10 Of 13 Criminal Charges In FTX Case
Crypto News: Sam Bankman-Fried (SBF), founder of collapsed crypto exchange FTX has moved new appeals in the case. As per the filings in Manhattan federal court, SBF has asked the judges to dismiss 10 out of 13 criminal charges against him.
Also Read: Binance Alleged Of Evading Russian Sanctions; CZ Yet To Reply
Did court rush In To Charge SBF?
As per reports, SBF’s lawyers claimed that the FTX was very far from the crypto linked firms to collapse during the horrible market crash in 2022. He added that prosecutors have hastily charged SBF in a rush to judgment.
SBF’s lawyers stated that the government jumped in with both feet improperly seeking to turn civil and regulatory issues into federal crimes However, the authority should have waited for traditional civil and other regulatory processes to look into the matter.
However, FTX founder argued that some of his alleged illegal transactions were recorded out of the US and the donations made for the political parties were legal. Read More Crypto News Here…
Also Read: Coinbase May Not Relist XRP Due To This Reason
U.S. prosecutors have accused SBF of running a worldwide scheme in order to defraud users. This involved FTX lenders and other hedge funds like Alameda. Meanwhile, FTX founder was charged with eight criminal counts earlier, this include wire fraud, conspiracy to commit money laundering and conspiracy to breach campaign finance laws.
SBF’s lawyers added that John Ray, who took over as CEO of bankrupt FTX, acted as a public mouthpiece for the government as he continuously made disparaging comments against SBF.
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