By Luc Cohen
A U.S. choose on Tuesday rejected Sam Bankman-Fried’s bid to have the costs towards him dismissed, paving the best way for the founding father of bankrupt cryptocurrency alternate FTX to face trial on Oct. 2.
Federal prosecutors in Manhattan say Bankman-Fried, 31, stole billions of {dollars} in FTX shopper funds to cowl losses at his hedge fund Alameda Analysis, misled buyers and lenders and illegally contributed to US political campaigns on behalf of his colleagues.
The previous billionaire pleaded not responsible. He admitted mismanagement of danger at FTX however denied stealing the funds.
In Could, Bankman-Fried requested U.S. District Choose Lewis Kaplan to dismiss not less than 11 of the 13 fraud and conspiracy fees towards him.
He argued that some have been based mostly on a authorized idea of fraud, which the US Supreme Courtroom has invalidated, and that some have been improperly introduced with out consent from the Bahamas, the place he was arrested in December and extradited to america.
“The arguments are moot or with out advantage,” Kaplan wrote Thursday.
A consultant for Bankman-Fried didn’t instantly reply to a request for remark.
