US prosecutors have indicated that a second trial is unlikely for the former CEO of defunct cryptocurrency exchange FTX, Sam Bankman-Fried (SBF). Stakeholders are striving for a swift resolution, emphasizing the public’s interest in learning about compensation for victims of the collapse.
On November 3, Bankman-Fried was found guilty of seven fraud charges. Despite a request for an adjournment of the sentencing hearing, Judge Lewis Kaplan declined the request noting that no objections had been raised to the initial date. Bankman-Fried’s sentencing is scheduled for March 28, 2024.
This verdict highlights the court’s commitment to established guidelines and procedures. As the sentencing date approaches, the legal repercussions of the former CEO become increasingly imminent. The case has drawn significant attention due to the profile of the individual involved, as well as the wider implications for those seeking restitution for the downfall of FTX.
