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Sam Bankman-Fried’s Legal Team Requests Trial Delay Due to Pending Evidence

The legal team representing Sam Bankman-Fried, the founder of FTX cryptocurrency exchange, has suggested that the scheduled criminal trial set to begin in October may need to be postponed to allow them more time to prepare a defense.

According to a letter sent to US District Judge Lewis Kaplan on March 8, Bankman-Fried’s attorneys stated that they are still waiting for evidence from federal prosecutors and therefore require more time to prepare their case.

While they have not officially requested a change in date, the lawyers stated that it may be necessary since they are still awaiting some evidence that has yet to be turned over to them. Many legal allegations were made against Bankman-Fried at the end of February, and the trial, which is set to begin on October 2, will focus on fraud charges brought by the Department of Justice (DOJ).

The letter revealed that DOJ prosecutors are holding evidence from the devices of Caroline Ellison, the former CEO of Alameda Research, and Gary Wang, the co-founder of FTX. Both Ellison and Wang have already pleaded guilty and are actively cooperating with the investigation. Bankman-Fried’s attorneys also stated that they are awaiting content from the “computers of two other former FTX/Alameda employees.” The lawyers believe that evidence from these devices will be significant and crucial for their defense.

The letter also noted that the superseding indictment against Sam Bankman-Fried has increased the number of charges from 8 to 12, with the new charges related to conspiracy and fraud. Bankman-Fried was arrested in December, accused of being directly responsible for the collapse of FTX, but was released on $250 million bail.

The identity of the two signatories of the $250 million bail bond for Bankman-Fried was revealed earlier this year. Bankman-Fried did not plead guilty in federal court in New York to the criminal charges related to the FTX collapse. With Bankman-Fried pleading not guilty, the case will go to trial, and the trial date is set for October 2.

In conclusion, it remains to be seen if the trial date will be postponed to give Bankman-Fried’s legal team enough time to prepare their defense. As this is a high-profile case, many will be watching with interest to see how it unfolds in the coming months.

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