FTX: US won’t sue SBF for illegal political financing

Sam Bankman Fried FTX

Sam Bankman Fried – FTX founder – credit: Alamy

The american prosecutors abandon thehe charge from illegal political financing against Sam Bankman-Fried. At the same time, they want to return l’ex-boss from FTX at prison.

The United States will not pursue Sam Bankman Fried for ” conspiracy to defraud the Federal Election Commission and to commit campaign finance violations “while the charge was not included in the extradition request of the fallen former cryptocurrency star, reported Bloomberg.

In accordance with its treaty obligations to the Bahamas, the government does not intend to proceed to trial on the campaign contribution tally,” a U.S. judge reported Wednesday.

The founder and former CEO of crypto exchange FTX faces a dozen charges in the United States. In May, SBF asked the court to dismiss several charges against him. Prosecutors were quick to counter.

Read:  Following in Binance's footsteps, Bybit leaves Canada

At the same time, Reuters reported that the judge had tightened bail conditions by preventing him from communicating publicly. The latter could also return him to custody pending trial following thecase from diary of his ex-partner.

Earlier this month, SBF shared the personal writings by Caroline Ellison with the NYT. He was subsequently prosecuted by the DOJ for disclosing information that could compromise the ongoing investigation.

For the time being, the judge in charge of the case has imposed a ” obligation of silence “at the request of the prosecutors, who want to see him in prison.

Read:  Synapse: Hong Kong's stock exchange modernizes settlement with blockchain and smart contracts

SBF’s lawyer justified his client’s actions on the grounds that he “ was simply trying to protect his reputation “by communicating with the press.

The two parts now have until Thursday, August 3 to convince the judge to imprison him or let him go free.

Following his extradition from the Bahamas to the US, the alleged crypto fraudster was released on $250 million bail. He has since been under house arrest at his parents’ home in California.

To follow theCrypto news and Web3find RoyalsBlue.com on TwitterLinkedin, Facebook or Telegram

The Best Online Bookmakers June 20 2024

BetMGM Casino

BetMGM Casino

Bonus

$1,000