Former FTX CEO and founder Sam Bankman-Fried has filed a pretrial movement to dismiss 10 of 13 costs in opposition to him, in line with court docket paperwork.
Bankman-Fried is underneath home arrest at his dad and mom’ house in Palo Alto, Calif., forward of his scheduled trial in October on costs of wire fraud, conspiracy to launder cash and conspiracy to make use of misuse shopper funds.
He additionally faces lawsuits from the SEC and the CFTC on related costs, in addition to the U.S. District Court docket for the Southern District of New York for allegedly bribing Chinese language officers “not less than $40 million.” .
In Monday’s submitting, attorneys for Bankman-Fried of the regulation agency Cohen & Gresser search to dismiss conspiracy to commit wire fraud and financial institution fraud costs.
Attorneys are additionally searching for to dismiss a couple of different costs, together with costs of bribery and political contribution.
Nonetheless, his attorneys didn’t enchantment three counts: conspiracy to commit securities fraud, securities fraud, and conspiracy to commit cash laundering.
In January, Bankman-Fried pleaded not responsible to eight U.S. prison counts. The choice, alongside this pre-trial movement, may flip right into a prolonged authorized battle.
In late December, FTX co-founder and former CTO Gary Wang and Alameda Analysis CEO Caroline Ellison each pleaded responsible to federal prison costs associated to FTX’s collapse. The 2 additionally face civil penalties from the SEC and CFTC alongside the prison costs.
Wang and Ellison plan to cooperate with prosecutors and will probably be key witnesses, given their shut ties to Bankman-Fried and FTX and its affiliate crypto hedge fund, Alameda.
