He filed a movement to dismiss 10 of the 13 counts he faces.
Sam Bankman-Fried on Monday sought to dismiss most of the criminal charges he faces in reference to the cave in of FTX, the crypto alternate he based.
Bankman-Fried filed a movement to dismiss 10 of the 13 counts he faces, together with fraud, conspiracy and overseas bribery.
The two-page movement integrated a reference to declarations from two of Bankman-Fried’s legal professionals that may give the underlying the explanation why he thinks the charges will have to be brushed aside. The movement mentioned no less than one of the most charges failed to correctly state an offense.
Bankman-Fried used to be arrested in December 2022 within the Bahamas, the place FTX used to be based totally. He has been confined to his oldsters’ house in Palo Alto, California, since his extradition to the United States.
He has pleaded now not responsible to the charges contained within the indictments returned in Manhattan, the place federal prosecutors mentioned he misappropriated billions of greenbacks from FTX sooner than it went bankrupt. Prosecutors allege he used the cash to quilt losses at his hedge fund, Alameda Research, to purchase lavish actual property and to make political donations.
In a November 2022 interview with ABC News, sooner than his arrest, Bankman-Fried mentioned he used to be in the end liable for the downfall of each firms, however denied that he knew “that there was any improper use of customer funds.”
Prosecutors have till the top of the month to reply to Bankman-Fried’s movement to dismiss.
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