Judge Rejects Ex-FTX CEO Sam Bankman-Fried's Request to Delay Sentencing Hearing
Summary:
Former FTX CEO Sam Bankman-Fried's request for a four to six-week delay of his sentencing hearing was denied by Judge Lewis Kaplan. The delay was sought to gain extra time for the preparation of the pre-sentencing interview and in case the government opts to proceed with a trial on the separate charges, which are yet to be scheduled. Bankman-Fried was found guilty on seven different charges, including wire fraud and money laundering conspiracy, but denies all allegations.
Former FTX head Sam Bankman-Fried's petition for a delay in his sentencing hearing of four to six weeks has been rejected by Judge Lewis Kaplan. This plea, lodged on Dec. 20, sought to postpone the pre-sentencing interview set for Dec. 21 and the sentencing hearing penciled in for March 28, 2024.
Mark Cohen from Cohen & Gresser, serving as Bankman-Fried's attorney, submitted the plea in a letter to the presiding judge of the trial held at the United States District Court of Southern New York. Cohen cited a need for additional preparation time for the pre-sentencing interview as the reason for the delay request. Also, he pointed out that the government has been silent on whether it will proceed to a second trial on Bankman-Fried's split charges, which are scheduled for disclosures on Jan. 5 and Feb. 2, 2024.
The split charges, five in total, were contested by Bankman-Fried as they were not part of the original indictment leading to his extradition from the Bahamas. If a trial on these charges were to occur, the date would be March 11, 2024, and might necessitate a separate pre-sentence investigation report and sentencing hearing, highlighted Cohen. He stated that, "For fairness and efficiency, the Court should consider the relevant conduct all at once in a single sentencing hearing.”
Although the defense sought the Government's agreement on the adjournment, Cohen reported, no response was received. Furthermore, this was the first adjournment request placed by Bankman-Fried, Cohen mentioned. Judge Kaplan, however, declined to alter the timeline, noting that the defense did not object to the sentencing date initially set and that Bankman-Fried had already been granted one extension for submitting sentencing paperwork.
Judge Kaplan, however, left room for a new adjournment request in case the government opts to proceed with a trial on the separated charges. On Nov. 7, Bankman-Fried was found culpable on seven charges: two for wire fraud and conspiracy, one for securities fraud, one for commodities fraud conspiracy, and one for money laundering conspiracy. Following the jury's decision, Bankman-Fried denied guilt on all counts and held on to his innocence claim.
Published At
12/20/2023 9:24:22 PM
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