Judge Lewis Kaplan dismisses the request for postponement in the sentencing of Sam Bankman-Fried.
Sam Bankman-Fried, the disgraced former chief of FTX, won't be receiving the sentencing delay he hoped for over the festive period, as per the decision of Judge Lewis Kaplan this Wednesday.
Bankman-Fried's legal team had submitted an early morning request seeking a postponement of four to six weeks for the sentencing hearing. The ex-CEO, convicted on seven counts in November, is currently on track for his March 28 sentencing, where he faces up to 110 years behind bars.
The defense argued for more time to gather necessary materials for the sentencing submission and to adequately prepare for the upcoming presentence interview. Additionally, they aimed to use this period to ready themselves for a potential second trial on charges previously set aside in the initial proceedings.
These additional charges, which Bankman-Fried has pleaded not guilty to, involve allegations of him funneling approximately $100 million to political figures. US Attorney General Damian Williams has maintained his stance on these accusations, stating in August, “Mr. Bankman-Fried remains charged with conducting an illegal campaign finance scheme.”
The legal team for Bankman-Fried contended, “We submit that Mr. Bankman-Fried should not begin the sentencing process on the counts of conviction, including the presentence interview, until the severed counts are resolved.”
However, Judge Kaplan was unmoved by these arguments. He noted that the sentencing date was set with no initial objections from Bankman-Fried's side. The judge also highlighted that the defendant has had ample time, over six weeks, to prepare for the imminent presentence interview, scheduled for the following day.
The trial of Bankman-Fried, a pivotal moment in the New York courts, concluded last month just shy of a year since FTX's dramatic downfall. After weeks of deliberations, the jury delivered a guilty verdict against the former cryptocurrency titan. Despite the defense's efforts, the court remains firm on proceeding with the sentencing as initially planned, marking the next chapter in this high-profile legal saga.