Former FTX CEO and founder Sam Bankman-Fried has filed a pretrial movement to dismiss 10 of the 13 prices in opposition to him, in accordance with courtroom paperwork.
Bankman-Fried is below home arrest at his mother and father’ house in Palo Alto, Calif., forward of his scheduled October trial on prices together with wire fraud, conspiracy to launder cash and conspiracy to misappropriate consumer funds.
He additionally faces lawsuits from the SEC and CFTC over related allegations, in addition to from the US District Courtroom for the Southern District of New York for allegedly bribing Chinese language officers to the tune of “a minimum of $40 million.”
In a submitting Monday, attorneys for Bankman-Fried, from the regulation agency Cohen & Gresser, are looking for to dismiss the wire fraud conspiracy and financial institution fraud prices.
Attorneys are additionally looking for to dismiss a number of different prices, together with allegations of bribery and political contributions.
However his legal professionals pleaded no contest to a few counts of conspiracy to commit securities fraud, securities fraud and conspiracy to commit cash laundering.
In January, Bankman-Fried pleaded not responsible to eight U.S. felony prices. The choice, together with this pretrial movement, may flip right into a prolonged authorized battle.
In late December, FTX co-founder and former CTO Gary Wang and Alameda Analysis CEO Caroline Ellison pleaded responsible to federal felony prices associated to FTX’s collapse. Additionally they face civil penalties along with felony prices from the SEC and CFTC.
Wang and Ellison plan to cooperate with prosecutors and will probably be key witnesses given their shut ties to Bankman-Fried and FTX and their associated cryptocurrency hedge fund Alameda.
