Posted 12/30/2023, 12:07:00 AM
Prosecutors Won't Pursue Second Trial Against Convicted FTX Founder Bankman-Fried
- Prosecutors won't pursue a second trial against Sam Bankman-Fried after he was convicted of fraud in November
- They said the public interest in a prompt resolution outweighs benefits of a second trial
- His sentencing is set for March 2024 and will likely include forfeiture and restitution orders
- Much of the evidence from a second trial was already presented in the first
- Bankman-Fried was convicted on all counts, a year after FTX filed for bankruptcy in a $8 billion fraud