A plea to postpone the sentencing of Sam Bankman-Fried has been denied by Judge Lewis Kaplan, setting the stage for the presentence interview scheduled for December 21. Bankman-Fried's legal team sought a four to six-week extension, anticipating a potential second trial on bank fraud and conspiracy charges related to the Foreign Corrupt Practices Act.
The request, submitted on December 20, came just a day before Bankman-Fried's planned presentence interview with the U.S. Probation and Pretrial Services System, responsible for advising on the prison sentence for the convicted former crypto billionaire. Despite the defense's plea for more time to gather necessary materials and prepare for the interview, Senior District Judge Lewis A. Kaplan rejected the request, emphasizing that sentencing would only be delayed if the U.S. government pursued a second trial on the severed charges.
Bankman-Fried, the founder of FTX, faces a sentencing hearing on March 28, with a trial on the severed counts of the indictment scheduled for March 11, 2024. The Southern District of New York judge pointed out that Bankman-Fried's camp had not objected to the initial dates following his fraud trial over FTX's collapse. This development comes after Bankman-Fried was found guilty on seven counts in November 2023, accused of misusing customer funds at his crypto exchange and trading giant, Alameda Research. While he remains detained, FTX continues its bankruptcy proceedings under new CEO John Ray III, sparking controversy with its repayment structure in the bankruptcy settlement plan.
