SBF says “dishonesty and unfair dealing” aren’t fraud, seeks to dismiss prices

SBF says “dishonesty and unfair dealing” aren’t fraud, seeks to dismiss charges

Enlarge (credit score: Drew Angerer / Workers | Getty Photographs North America)

Late Monday, legally embroiled FTX founder Sam Bankman-Fried moved to dismiss nearly all of prison prices lobbed in opposition to him by the USA authorities after his cryptocurrency change went bankrupt in 2022.

In paperwork filed in a Manhattan federal courtroom, attorneys from the regulation agency Cohen & Gresser LLP shared Bankman-Fried’s first official authorized protection. Attorneys accused the US of a “troubling” and “basic rush to judgment,” claiming that the federal government did not even wait to obtain “hundreds of thousands of paperwork” and “different proof” in opposition to Bankman-Fried earlier than “improperly searching for” to show “civil and regulatory points into federal crimes.”

After FTX’s collapse final 12 months, federal prosecutors acted shortly to intervene, inside a month alleging that Bankman-Fried was stealing billions in buyer funds, defrauding buyers, committing financial institution and wire fraud, offering improper loans, deceptive lenders, transmitting cash with no license, making unlawful marketing campaign contributions, bribing China officers, and different crimes. By means of all of it, Bankman-Fried has pleaded not responsible. Now, in his movement to dismiss, Bankman-Fried has requested an oral argument to “struggle these baseless prices” and “clear his identify.” He is asking the courtroom to dismiss 10 out of 13 prices, arguing that federal prosecutors have did not substantiate most of their claims.

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