In early May, Sam Bankman-Fried filed a motion with the court to dismiss 10 of the 13 charges, which include fraud, collusion and bribery of foreign officials.
The FTX founder’s defense argues that the United States has gone too far in its case against him, accusing him of federal crimes, while the country’s cryptocurrency regulation rules are not clear.
Lawyers believe that these points in the original indictment are too vague and lack specificity to be considered in court.
The prosecutor’s office has responded to the motions by filing papers in federal court in Manhattan.
According to the prosecutor’s office, the charges against Bankman-Fried are brought under the relevant laws, and the defendant’s alleged misconduct violates those laws.
The prosecutor’s office has requested that Judge Lewis A.Kaplan (Lewis A. (Kaplan) upheld all charges.
It is fully expected that Bankman-Fried’s attorneys will argue in court that their client was not involved with Alameda and did not know that Alameda borrowed large sums from FTX to repay its creditors, according to a statement from the prosecutor’s office.
“The fact that Defendant misappropriated funds for political contributions proves his motives for defrauding FTX customers and investors.
The defendant wanted access to capital that he could use in part to enhance his own image and improve his business prospects in the United States,” prosecutors said.
FTX exchange declared bankruptcy in November. Trial of the case is tentatively scheduled for the fall. Last December, Bankman-Fried was arrested by Bahamas police.
However, that same month, after being extradited to the U.S., he was released on $250 million bail. The FTX founder now resides with his parents in Palo Alto, California.