There is a new development to the legal battle faced by the former FTX CEO and co-founder, Sam Bankman-Fried, and this is also the first time that its team shared its first official legal defense with the world. It centers on SBF's team looking to dismiss the case brought up against the executive made by the US government, especially regarding the FTX bankruptcy that took place in 2022.
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Sam Bankman-Fried Seeks to Dismiss Multiple Charges Against Him
Ars Technica's latest report compiles the many submitted documents of Sam Bankman-Fried's legal team to the US courts, centering on their motion to dismiss the many cases filed against the former FTX CEO.
The law firm Sullivan & Cromwell, known for representing Bankman-Fried, has accused the US government of its "rush to judgment" regarding the executive's hands on the crime and charges against him.
"The Government's haste and apparent willingness to proceed without having all the relevant facts and information has produced an indictment that is not only improperly brought but legally flawed and should be dismissed," as discussed in the memo by Bankman-Fried's legal team.
SBF is now asking for an "oral argument" where he and the court would discuss the "baseless charges" against him to clear himself of the crimes. The executive is also looking to dismiss 10 out of 13 charges, with him claiming that there is no substantial basis for these claims.
Read Also: Sam Bankman-Fried Faces New Criminal Charge for Bribing Chinese Officials for as much as $40M
SBF's Legal Defense: Wants Separate Trials for Cases
Apart from this, Bankman-Fried's legal team aims to separate the trials for the different cases filed against the executive, one which would give SBF a fair chance in the eyes of the jury and avoid "undue prejudice." The move to separate the combined charges aims to allow SBF a fair fight in court.
Moreover, SBF's lawyers aim to have Bahamian authorities to consent the charges against him as part of the extradition treaty with the US when he was taken from his home in the Bahamas and back to the country.
FTX Bankruptcy and Sam Bankman-Fried
One of the modern times' most controversial executives is Sam Bankman-Fried, and this is because of the unprecedented and surprising collapse of a once-known high-performing company, FTX. The company's bankruptcy initially had all of its money and its investors' funds lost, with no one answering to the missing funds.
Different evidence was presented against SBF, with egregious spending using FTX's funds to pay for DoorDash orders, lavish vacations on luxurious hotels, and other services that are not part of the company's spending plans. Moreover, this complaint said that this was also the time that FTX is struggling to make ends meet and when the company threatened to go under.
While other executives like Gary Wang and Caroline Ellison already admitting their guilt on the fraud charges against them, SBF has pleaded "not guilty" on all of its cases and plans to fight it out in court. Now, the former executive and his legal team are seeking to dismiss the cases against his name, as well as have separate trials for the complaints to give him a fair fighting chance in front of the judge and jury.
Related Article: Not Guilty? Sam Bankman-Fried Denies New Counts Linked to FTX's Demise
