The lawyers of disgraced FTX founder Sam Bankman-Fried have said that the 31-year old’s trial may have to be delayed in order to review evidence and prepare a defence.
The trial, initially scheduled for 2 October, will see Bankman-Fried’s lawyers argue his not guilty plea which was filed in January. He faces eight counts that he cheated investors and fraudulently caused billions in losses with the activities of crypto exchange FTX which spectacularly collapsed last year.
The lawyers have sent a letter to US District Judge Lewis Kaplan calling on an extension as Caroline Ellison and Gary Wang – two of Bankman-Fried’s closest associates who have pleaded guilty and agreed to cooperate with prosecutors – yet to turn over evidence.
In the letter, Christian Everdell, one of Bankman-Fried's lawyers, wrote: “While we are not making such an application at this time, we wanted to note this issue for the Court now.”
Bankman-Fried, who at one point had a valuation of $26 billion, is currently under house arrest at his parents home in Palo Alto, California, having been released on a $250 million bond. Judge Kaplan recently suggested the bail could be revoked after prosecutors claimed that Bankman-Fried may have tried to tamper with witnesses. The prosecutors last weekend proposed that he remain free but with limits on his use of technology.
A court hearing will take place on Friday to discuss the trial schedule and Bankman-Fried’s bail conditions.
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