Sam Bankman-Fried’s trial may not start on October 2nd.

Attorneys representing Sam Bankman-Fried (SBF), the former CEO of the recently collapsed cryptocurrency exchange FTX, highlighted that it may be necessary to delay the trial scheduled for October 2nd to give lawyers more time to prepare.

The lawyers have not yet made a formal request to the court to reschedule the trial dates. However, they questioned the request in a letter directed to Judge Lewis Kaplan of the US District Court for the Southern District of New York.

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In the letter, one of the attorneys representing Sam Bankman-Fried stated:

Depending on the volume of the additional discovery and the timing of the productions, it may be necessary to request an adjournment of the trial, currently scheduled to begin on October 2, 2023.

The letter dated March 8th revealed that the lawyers are still waiting for a significant amount of evidence. The attorneys also highlighted that four new charges were filed against their client in late February, increasing the number of counts against SBF to 12. The lawyers said they may need more time to review all the cases before the trial begins. 

Some of the evidence the attorneys are waiting for are materials from the devices of the former CEO of Alameda Research, Caroline Ellison, and FTX co-founder Gary Wang

The two former executives of the FTX-related companies pleaded guilty to the fraud cases laid against them. Sam Bankman-Fried, on the other hand, pleaded not guilty to the original eight counts of fraud in January.

Sam Bankman-Fried was arrested following the collapse of the FTX cryptocurrency exchange in November 2022. He was accused of fraud by the Department of Justice (DOJ). Sam Bankman-Fried was released on a bond worth $250 million and has since been under house arrest in California, United States. 

Gile K. - Crypto Analyst

by Gile K. – Crypto Analyst, BitDegree

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