Previously, it was reported that US prosecutors are no longer pushing for a second trial on the Sam Bankman-Fried (SBF) case. They cited “strong public interest” for the speedy disposition of the lawsuits as a basis for their decision. However, critics suspect that the move may only be part of damage control to avoid exposing the politicians who heavily benefitted from the former FTX CEO’s massive campaign donations. Presidential hopeful Robert F. Kennedy (RFK) called the maneuver “normalized corruption.”
The Cases Against Sam Bankman-Fried
As a recap, Bankman-Fried was found guilty of seven counts of fraud in November and is now awaiting Judge Lewis Kaplan’s sentencing on March 28, 2024. There are also six other cases pending the consent of the Bahamas judiciary to be heard in the US, including conspiracies to commit bribery, campaign finance violations, and operating an unlicensed money-transmitting business.
For the prosecutors assigned to the case, there’s no longer a need for a second trial because the shreds of evidence that would be presented there were earlier submitted in the first trial. They can already serve as a basis for the defendant’s sentencing in March.
The state lawyers further argued that since the interest of the public “weighs particularly heavy” on the forfeitures of assets and compensation of the victims, the quick resolution of the cases would allow the immediate delivery of justice for the parties involved.
SBF’s attorneys are yet to comment on the issue.
Reactions of Critics
Coinbase Chief Legal Officer Paul Grewal decried the move as a “miscarriage of justice.” That’s because it would not only make Bankman-Fried accountable for them, but it would also prevent the revelation of the politicians who benefitted from the ill-gotten wealth of SBF during their campaigns.
Kennedy didn’t pull any punches in his reaction over the matter. In his post on X, the independent candidate for the 2024 US presidential elections said “no one is even surprised” with the recent developments.
RFK criticized the actions of the state prosecutors as a “bigger problem than the fraud itself.” He added that it just goes on to illustrate “how normalized corruption” has been ingrained in the system.
Even Tesla and X owner Elon Musk couldn’t contain himself and replied to the news with two exclamation marks. There was no extra context in his response but it appeared he was just as surprised as everyone else.