{"id":16165,"date":"2023-05-31T08:54:04","date_gmt":"2023-05-31T12:54:04","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/the-u-s-justice-department-awaits-bahamas-response-regarding-new-charges-against-sam-bankman-fried\/"},"modified":"2023-05-31T08:54:05","modified_gmt":"2023-05-31T12:54:05","slug":"the-u-s-justice-department-awaits-bahamas-response-regarding-new-charges-against-sam-bankman-fried","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=16165","title":{"rendered":"The U.S. Justice Department Awaits Bahamas Response Regarding New Charges Against Sam Bankman-Fried"},"content":{"rendered":"
\n

The US Justice Department (DOJ) may drop some of the charges against the disgraced former FTX CEO Sam Bankman-Fried if authorities in the Bahamas objects to them.<\/p>\n

The charges that could be dropped include those related to bank fraud, operating an unlicensed money transmitting service, and a case of bribery of a Chinese official, court documents filed on Monday shows.<\/p>\n

The reason given for why some charges could be dropped if Bahamas objects to them is that they could violate the terms of Bankman-Fried\u2019s extradition since they were not included in the original indictment that served as the legal basis for Bankman-Fried\u2019s extradition to the US.<\/p>\n

The former FTX boss was arrested in the Bahamas in December of 2022, and shortly after extradited to the United States under a special agreement between the two countries.<\/p>\n

According to the agreement, individuals who are extradited can only be tried and punished for crimes that the extraditing country \u2013 in this case the Bahamas \u2013 has agreed to.<\/p>\n

For the time being, US federal prosecutors are still waiting to hear from Bahamian authorities on whether they can get a waiver from the rule in order to try Bankman-Fried on the charges that have been brought into the case after his extradition.<\/p>\n

If Bahamian authorities do not consent, prosecutors made it clear in the new court filing that they will not pursue the additional charges.<\/p>\n

\u201cThe government will proceed on the new charges [\u2026] if The Bahamas consents to trial on these charges, and will not proceed on those counts if The Bahamas denies the Government\u2019s request,\u201d the prosecutors said.<\/p>\n

A court hearing on the motion to dismiss the additional charges is scheduled for June 15, while Bankman-Fried\u2019s trial is expected to begin on October 2.<\/p>\n

The former exchange CEO could face over 100 years in prison if convicted on all charges.<\/p>\n

He has previously admitted mistakes during his time as the head of FTX, but has denied any criminal liability.<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The US Justice Department (DOJ) may drop some of the charges against the disgraced former FTX CEO Sam Bankman-Fried if authorities in the Bahamas objects to them. The charges that could be dropped include those related to bank fraud, operating an unlicensed money transmitting service, and a case of bribery of a Chinese official, court […]<\/p>\n","protected":false},"author":1,"featured_media":16166,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-16165","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nThe U.S. Justice Department Awaits Bahamas Response Regarding New Charges Against Sam Bankman-Fried | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The US Justice Department (DOJ) may drop some of the charges against the disgraced former FTX CEO Sam Bankman-Fried if authorities in the Bahamas objects\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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