HomeNewsFTX founder Sam Bankman-Fried nonetheless faces marketing campaign finance fees, prosecutors say...

FTX founder Sam Bankman-Fried nonetheless faces marketing campaign finance fees, prosecutors say Acquire US

Indicted FTX founder Sam Bankman-Fried arrives at the USA Courthouse in New York Metropolis, July 26, 2023.

Amr Alfiky | Reuters

Marketing campaign finance fees in opposition to Sam Bankman-Fried are nonetheless on the desk and shall be included in an indictment subsequent week in opposition to the founding father of failed crypto trade FTX, prosecutors mentioned in a letter to a Manhattan federal choose on Tuesday.

Bankman-Fried faces many years in jail if convicted on the unique seven-count indictment, which facilities round an alleged multibillion-dollar fraud in opposition to FTX traders. Nevertheless, the federal government had been pressured to drop extra allegations of marketing campaign finance fraud in July due to the phrases of the U.S. extradition treaty with the Bahamas, the place Bankman-Fried and his firm have been primarily based.

The U.S. Lawyer’s Workplace for the Southern District of New York now says that the forthcoming indictment “will clarify that Mr. Bankman-Fried stays charged with conducting an unlawful marketing campaign finance scheme.” The federal government will incorporate it inside two of the fees which can be nonetheless standing —‎ wire fraud and cash laundering.

The treaty with Bahamas prevents prosecutors from including additional fees in opposition to somebody who has been extradited with out first getting permission from the opposite authorities. The U.S. authorities had requested the Bahamas to extradite Bankman-Fried on a seven-count indictment. However prosecutors did not get clearance from the Bahamas so as to add additional fees of marketing campaign finance and bribery to Bankman-Fried’s indictment.

Bankman-Fried is accused of conspiring to launder buyer cash to finance his lavish way of life affect politicians. His trial is anticipated to start in October, which might be 11 months after FTX filed for chapter.

A spokesperson for Bankman-Fried declined to remark.

— CNBC’s Daybreak Giel contributed to this report.

WATCH: Choose imposes gag order on Sam Bankman-Fried

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