The Southern District of New York District Court has dismissed all pretrial motions filed by FTX founder Sam Bankman-Fried (SBF), including motions to dismiss the lawsuit or “dismiss” certain charges.

District Judge Louis Kaplan, who is overseeing the case, delivered his ruling on June 27, according to reports. Court submission.

The court said it had reviewed all arguments related to the pretrial motions and found them “invalid or without merit.”

The founder of the defamed cryptocurrency exchange will be put on trial from October 2nd.

Seven pretrial motions

SBF’s defense filed seven pretrial motions on May 8, including an overall motion to dismiss the trial, which was imposed after the FTX founders were extradited from the Bahamas. It also included a motion to dismiss the charges.

The defense argued that these charges should not have been imposed because of “multiple legal flaws.” These included charges related to bribing foreign government officials and illegal campaign financing.

U.S. prosecutors announced on June 15 that they would drop the charges for the time being to avoid delaying the trial due to laws related to the extradition charges.

They added that the dropped charges will not be forgotten and will be brought against SBF in 2024 after the initial trial is over. But prosecutors have refused to drop charges related to improperly funding political campaigns, even though the warrant of surrender issued in the Bahamas did not include the charges.

The court upheld the charges and dismissed all pretrial motions except those related to post-delivery charges that were dropped.

skeleton in the closet

New evidence released by CEO John Ray III’s FTX collection team on June 22 reveals that the exchange’s leadership has been deliberately mixing and misusing customer funds from day one. rice field.

The document depicts a blatant abuse of power and a clear disregard for clients, with leaders diverting billions of dollars of client and corporate funds for personal gain.

Leaders, including SBF, Gary Wang and Nishad Singh, used client and corporate funds like personal piggy banks, spending hundreds of millions of dollars on speculative deals, political donations and luxury real estate.

According to the filing documents:

“FTX Group mixed customer deposits with company funds and misused them without regret.”

The recovery team is set to release its next report in August, which should reveal more about FTX’s inner conspiracies and its epic collapse.

Post-trial content from SBF, which was finalized in October, was first posted on CryptoSlate after the court rejected a pretrial dismissal motion.

By Jules

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