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<p>The post <a href="https://coinpedia.org/news/sam-bnakman-fried-sparking-buzz-as-prosecutors-drop-remaining-charges-against/">Sam Bankman-Fried Sparking Buzz As Prosecutors Drop Remaining Charges</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The move is sparking criticism as prosecutors in the United States have decided not to proceed with further charges against bankrupt crypto mogul Sam Bankman-Fried in a <a href="https://storage.courtlistener.com/recap/gov.uscourts.nysd.590940/gov.uscourts.nysd.590940.388.0.pdf">letter</a> to Lewis A. Kaplan, including allegations of foreign bribery and bank fraud. The sudden decision sparked disappointment in the crypto industry, with critics accusing the authorities of covering up one of the biggest political and crypto scandals in American history.</p> 
<h2 class="wp-block-heading" id="h-robert-f-kennedy-weighed-in"><strong>Robert F Kennedy weighed In</strong></h2> 
<p>The decision to drop the charges against Sam Bankman comes with a lot of disagreements and criticism in the crypto industry, including from known potential personalities like presidential candidate Robert F. Kennedy and Coinbase’s Chief Legal Officer, who accused the authorities of attempting to cover up and hide major misconduct that was seen as a threat to the industry.</p> 
<blockquote class="wp-block-quote"> 
 <p>No one is even surprised. THAT is a bigger problem than the fraud itself. It shows how normalized corruption has become.</p> <cite><a href="https://twitter.com/RobertKennedyJr/status/1741548290175312062">Robert F Kennedy Jr</a></cite>
</blockquote> 
<h2 class="wp-block-heading" id="h-dropped-charges-by-authorities"><strong>Dropped Charges by Authorities</strong></h2> 
<p>Bankman made headlines in 2021 for his gigantic political donations, which included large sums given to both Democratic and Republican politicians. Now, dropped charges are the latest unexpected twist in a saga that includes foreign bribery, Bank fraud, and operating as an unlicensed money-transmitting business as well as substantive securities and commodities fraud.</p> 
<p>According to the prosecutors, the charges of unlawful donations were already heard and covered in the evidence shown during SBF’s trial in October. They also asserted that they needed to step up with the case as The Bahamas had yet to answer the U.S.’s request for SBF’s prosecution on the additional charges.</p> 
<h2 class="wp-block-heading" id="h-march-2024-trial"><strong>March 2024 Trial</strong></h2> 
<p>In a letter, the lawyers explained that the majority of the evidence they planned to introduce in the second trial was already presented in the first case trial itself, and now it can be considered in the sentencing procedure of the SBF for March 2024.</p> 
<blockquote class="wp-block-quote"> 
 <p>“Proceeding with sentencing in March 2024 without the delay that would be caused by a second trial would advance the public’s interest in a timely and just resolution of the case. The interest in avoiding delay weighs particularly heavily here, where the judgment will likely include orders of forfeiture and restitution for the victims of the defendant’s crimes.”</p> <cite>Prosecutors</cite>
</blockquote> 
<p><strong>As the case continues to unfold,</strong> one thing is clear: the impact of this case is seen in the crypto industry. The question now is whether justice will be served to the investors who lost their lifetime earnings in this bankruptcy.</p>

Sam Bankman-Fried Sparking Buzz As Prosecutors Drop Remaining Charges

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