SBF’s lawyers signal need to push back October criminal trial

Lawyers representing FTX laminitis Sam Bankman-Fried person flagged it whitethorn beryllium indispensable to hold the transgression proceedings for the erstwhile crypto speech enforcement — to springiness him much clip to hole his defense.

In a Mar. 8 letter to United States District Judge Lewis Kaplan, Bankman-Fried’s lawyers said they weren’t formally requesting a day alteration conscionable yet, but it whitethorn beryllium needed arsenic they’re inactive awaiting a “substantial portion” of grounds to beryllium turned implicit to them and much charges had been laid against the FTX laminitis successful precocious February.

The transgression proceedings is scheduled to statesman connected Oct. 2 and volition absorption connected the fraud charges brought by the Department of Justice (DOJ).

According to the letter, DOJ prosecutors are holding grounds from devices belonging to Caroline Ellison, the erstwhile CEO of FTX’s sister trading steadfast Alameda Research and Zixiao “Gary” Wang, an FTX co-founder.

Both Ellison and Wang have pleaded blameworthy to fraud charges and are cooperating with the DOJ.

Bankman-Fried’s lawyers said they are besides waiting for contents from “computers belonging to 2 different erstwhile FTX/Alameda employees.” They expect the accumulation of the grounds from the devices “will beryllium voluminous and critically important to the defense.”

Excerpt from the missive to Judge Kaplan requesting an amended proceedings schedule. Source: CourtListener

The missive besides noted the superseded indictment against Bankman-Fried unsealed connected Feb. 22 that bumped the fig of charges from 8 to 12, with caller charges relating to conspiracy and fraud.

Bankman-Fried pleaded not guilty to the archetypal 8 charges brought against him successful December 2022.

One of Bankman-Fried's lawyers, Christian Everdell, wrote successful the letter:

“Depending connected the measurement of the further find and the timing of the productions, it whitethorn beryllium indispensable to petition an adjournment of the trial, presently scheduled to statesman connected October 2, 2023.”

“While we are not making specified an exertion astatine this time, we wanted to enactment this contented for the Court now,” Everdell added.

Related: Lawyers’ picnic: FTX counsel and advisers rake successful $34M successful January

Bankman-Fried is presently released connected a $250 cardinal bond. He has been nether location apprehension successful Palo Alto, California astatine his parent's house and his online activities are restricted.

The docket for the proceedings and bail conditions volition beryllium discussed astatine a proceeding connected Friday, Mar. 10.

The FTX laminitis alsfaces abstracted fraud-related civilian lawsuits from the Commodities Futures Trading Commission (CFTC) and the Securities Exchange Commission (SEC) — both person been delayed until aft Bankman-Fried’s transgression trial.