Sam Bankman-Fried’s Bid for Sentencing Adjournment Denied

Maxwell Mutuma
December 21, 2023
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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.

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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.

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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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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. I write extensively on topics such as blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.