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Fallen FTX former CEO is dismissing most criminal charges against him

In January, fallen FTX cofounder Sam Bankman-Fried pleaded not guilty in the US government’s criminal case against him over FTX’s collapse. The former FTX CEO was set for an October 2 trial.

To make matters worse, Bankman-Fried’s lawyers wrote in a Monday filing to the Manhattan federal court that the US government had brought the original indictment against him on December 9 in a “classic rush to judgement” less than a month after FTX’s bankruptcy. Essentially, Fried and his lawyers have asked a US judge to dismiss 10 out of 13 criminal charges against him over the crypto exchange’s collapse.

“Rather than wait for traditional civil and regulatory processes following their ordinary course to address the situation, the government jumped in with both feet, improperly seeking to turn these civil and regulatory issues into federal crimes,” his lawyers wrote.

Bankman-Fried’s lawyers said that a campaign-finance charge must be discharged because it wasn’t included in the surrender warrant signed by the Bahamian government for his extradition.

The US government also added new charges against Bankman-Fried that “alleged criminal conduct far beyond the Original Indictment and which are improperly brought,” his lawyers added. “Even if they are considered, the charges should be dismissed as legally flawed,” they said.

Other charges they are applying to discharge include those related to bank fraud, unlicensed money transmitting, and bribery.

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