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News Explorer — Federal Prosecutors Have Decided Against a Second Trial for FTX Founder Sam Bankman-Fried

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Dec 30, 12:58 am
Coindesk

Federal Prosecutors Have Decided Against a Second Trial for FTX Founder Sam Bankman-Fried

Federal prosecutors have stated that FTX Founder Sam Bankman-Fried will not face a second criminal trial, as it would delay a timely resolution of the case. The prosecutors argue that the original trial provided sufficient evidence of Bankman-Fried's financial crimes, making a second trial unnecessary. Bankman-Fried was found guilty of wire fraud, securities fraud, and money laundering in November 2022, resulting in significant losses for FTX and Alameda Research investors.

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