Judge Sets Sept 1st Deadline for SBF’s Defense in Trial Delay Decision

As the court hearing for Sam Bankman-Fried (SBF), the former CEO of FTX, approaches, the defense team grapples with challenges. Judge Lewis Kaplan has, however, clarified the defense’s window of opportunity, stipulating they have until September 1 to ask for a trial postponement.

Facing the Challenges Head-On

Significantly, Bankman-Fried’s defense has not directly sought a new trial date. They initially opted for an aggressive timeline, aiming to exonerate their client promptly. However, they hinted at needing more time, citing issues accessing discovery materials. Kaplan, showing his typical straightforwardness, emphasized the need for substantial reasons. “There’s got to be more meat on those bones,” he remarked.

The August 30 hearing underscored the defense’s plea for Bankman-Fried’s temporary release. They hoped this would aid his preparations for the impending October 3 trial. This request came from Kaplan’s decision to revoke Bankman-Fried’s bail on August 11. Consequently, Sam Bankman was confined at the Metropolitan Detention Center in Brooklyn.

Moreover, the defense contends their client’s limited internet access impedes adequate trial preparation. Besides, there’s the massive volume of evidence produced by prosecutors, which they argue Bankman-Fried hasn’t had ample opportunity to review. Assistant U.S. Attorney Danielle Sassoon countered, noting that Bankman-Fried can review materials for 70 hours a week and has a robust legal team supporting him.

SBF’s Legal Future

Bankman-Fried, embroiled in a severe legal tangle, faces 12 criminal charges. These will span two separate trials, with the first set for October 2, 2023, and the second on March 11, 2024. The crux of his defense is whether he genuinely sought legal advice before his alleged missteps at FTX and Alameda Research or if it’s merely a strategic move.

The court grows weary with the trial date nearing, urging the defense to make their move. Hence, both parties are on tenterhooks, with a lot riding on the outcomes of the upcoming trials.