Only some of the charges against the FTX cryptocurrency exchange platform’s founder will be used as evidence in his trial.
The majority of FTX customers are unhappy. The charges against the former CEO and founder of FTX, who was released after paying a sum of $250 million to avoid going to jail, have just been reduced in half.
Six of the 13 charges against former FTX executives were dismissed by the Bahamian court where Sam-Bankman Fried is currently based, according to claims that they did not follow the terms of the extradition agreement between the Bahamas and the United States. Sam Bankman-Fried was charged with corruption, conspiracy, and bank fraud, and he was allegedly involved in paying off Chinese officials.
The American Justice granted a request and agreed to temporarily dismiss 6 of the 13 counts. The extradition of Sam-Bankman Fried to the United States should eventually take place so he can appear in court in October.
Sam Bankman-Fried will be required to respond to allegations of money laundering, wire fraud, and securities fraud.
A second trial could cover the six charges dismissed by Bahamian justice in 2024.
