Prosecutors: No Need for a Second Trial of FTX Founder

UNITED STATES – U.S. Prosecutors arguing against a second trial for FTX Founder Sam Bankman-Fried, convicted in November on cryptocurrency fraud charges. 

They say a new trial would duplicate evidence and delay sentencing, impacting customer payouts. 

Bankman-Fried faces charges of defrauding customers and investors of at least $10 billion. Prosecutors withdrew some charges last spring, planning a potential second trial in 2024.

With sentencing set for March 28, prosecutors emphasizing the urgency of a prompt resolution in the interest of justice.