US DOJ Asks Judge To Extend Sam Bankman-Fried Trial

The U.S. Department of Justice (DOJ) has asked Judge Kaplan to extend the trial date for FTX co-founder Sam Bankman-Fried. The criminal trial of Sam Bankman-Fried is set to begin on Tuesday, October 3, but prosecutors believe more days are necessary in the first week to ensure witness hearings and ensuring efficient pace of the trial.

DOJ Seeks Additional Dates in the Trial

US Attorney for the Southern District of New York Damian Williams sent a letter to Judge Lewis A. Kaplan requesting to extend the first week of trial, according to a court filing late September 19.

As the jury selection is scheduled to begin on October 3, it will likely take most part of the day. Also, it will leave only two trial days in the week before the Columbus Day holiday on October 9. Thus, the DOJ requests the judge to include October 6 in the first week of the trial.

In addition, the government is scheduling travel for many out-of-town witnesses, ensuring sufficient witnesses’ presence in the first week. Also, the DOJ doesn’t want witnesses to remain in New York for an additional five days.

The DOJ believes it’s important an additional sitting will help efficient use of the jury’s time, witnesses’ travel schedules, and trial pace. The defense has opposed the request to get more time to prepare for trial.

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Sam Bankman-Fried Seeks Release Ahead of Trial

Sam Bankman-Fried was put in jail after the judge revoked his bail due to witness tampering. Judge Kaplan recently denied pretrial bail for Sam Bankman-Fried.

Meanwhile, Sam Bankman-Fried’s attorneys and the prosecutors will present their arguments to a three-judge panel of the 2nd U.S. Circuit Court of Appeals on Tuesday. Both parties will be given five minutes to present their argument on a potential bail of Bankman-Fried.

FTX filed a lawsuit against Sam Bankman-Fried’s parents Allan Joseph Bankman and Barbara Fried. Debtors FTX and Alameda Research aim to recover millions of dollars in fraudulently transferred and misappropriated funds by Sam Bankman-Fried’s parents during FTX’s earlier years.

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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