U.S. Prosecutors drops Second Trial for Against FTX Founder Sam Bankman-Fried

In a filing on December 29, U.S. prosecutors announced that they will not pursue a second trial for additional charges against former FTX founder Sam Bankman-Fried (SBF). SBF was convicted on November 3 of seven charges of fraud. The prosecutors noted that the charge for unlawful political contributions was part of the original indictment. However, the unlawful donations charge, along with those brought by the superseding indictment, were included after SBF was extradited to the U.S. from The Bahamas in December 2022. The prosecutors believe that proceeding with the sentencing is in the public’s interest, outweighing the need for a second trial, as it will likely include orders of forfeiture and restitution for the victims. The decision to drop the unlawful donations charge may impact FTX’s efforts to recoup the contributions. (Source: Cryptoslate)