Bahamas Supreme Court Allows Sam Bankman-Fried to Contest Additional DOJ Charges.
Sam Bankman-Fried, the founder of FTX, is facing additional charges in the United States. However, there is a delay in the extradition process due to a judgment made by the Bahamas Supreme Court on Tuesday. The court allowed Bankman-Fried to review the terms of his extradition from the Caribbean. This legal action comes after the collapse of his cryptocurrency exchange in November. Initially, Bankman-Fried was facing charges of wire fraud and money laundering. However, US prosecutors have added more charges, including bank fraud and bribery. Bankman-Fried has pleaded not guilty to all charges and has moved to dismiss many of them. He argues that he should have the right to challenge the additional charges before the Bahamas agrees to add them to the charge sheet. On Tuesday, Bahamas Supreme Court Judge Loren Klein granted leave to Bankman-Fried to commence proceedings for judicial review. Klein’s comments favor Bankman-Fried’s bid to contest the position taken by the Bahamas minister and Attorney General. Klein said that the Bahamas government cannot add the additional offenses until the legal process has finished. Bankman-Fried’s lawyer, Mark Cohen, intends to file an application for judicial review as directed by the Supreme Court and to continue pursuing his legal rights in The Bahamas. Cohen has previously warned that legal measures in the Bahamas could take “months or years,” pushing them beyond the planned October US trial date or meaning he doesn’t have enough time to prepare a defense to the extra charges.
Read more: Sam Bankman-Fried’s Bahamas Litigation May Take ‘Months or Years,’ His Counsel Says
Edited by Parikshit Mishra.