- The trial is scheduled to begin in October
- But the timeline could be pushed back because of the Bahamas
- There have filed their charges against Fried
The Sam Bankman-Friede trial could drag on for “months or years.”. This was announced by lawyers of the former crypto-king. That’s how the lawyers commented on the new charges being prepared by Bahamian authorities.
The trial is scheduled to begin in October 2023. Now Bankman-Fried remains under house arrest after extradition from the Bahamas. Ex-head of FTX charged with multiple counts, including fraud and money laundering. The businessman pleads not guilty and is preparing a defense.
Fried’s attorneys pointed out that the charges, which the Justice Department brought after his extradition, contradict the U.S. treaty with the Bahamas. Now the businessman can challenge the attempts to put forward new articles in foreign courts. It will take months or even years.
This argument was reinforced by the U.S. Supreme Court. Therefore, he has narrowed the scope of certain federal laws that deal with SBF allegations of fraud. All of this generally weakens the argument that Fried defrauded investors.
For example, lawyers have sought to overturn an article saying that Alameda Research clients cannot get their money back after the firm goes into liquidation. The court analyzed North Dimension’s (an intermediary bank) reports and found the indictment invalid.
Disputing each point of such international charges would significantly increase the length of the litigation.