US prosecutor: SBF will not face second trial on additional charges

FTX founder Sam Bankman-Fried (SBF) will not face a second trial on additional charges, U.S. prosecutors said on Friday. Prosecutors sent a letter to U.S. District Judge Lewis Kaplan on Friday saying they would drop plans to try SBF on charges of conspiring to bribe foreign officials, bank fraud and operating a money transfer business without a license. It explained that most of the evidence to be presented in the second trial had already been presented in the first trial and could be considered by the judge in his judgment on March 28. "Continuing sentencing in March 2024 and avoiding the delays caused by a second trial will serve the public's interest in a timely and fair resolution of the case," the letter read. It is reported that SBF was found guilty of seven counts of fraud and conspiracy and may face decades in prison. (Bloomberg)