Sam Bankman-Fried will not face second trial after multibillion-dollar crypto fraud conviction
GuardianDec 28, 2023
Prosecutors Drop Plans for Second Trial of Bankman-Fried
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The Facts
Federal prosecutors in New York have decided not to try the fallen crypto mogul Sam Bankman-Fried (SBF) on the illegal campaign donation charge that had previously been severed from the financial fraud case against him.
Writing to US District Judge Lewis Kaplan on Friday they argued that public interest in a timely resolution to the case offsets any need for a second trial, adding that the alleged conduct could be factored into his sentence as the evidence to be presented was similar to that from the first proceeding.
The Spin
Republican narrative
As the Biden administration opts to drop campaign finance charges against one of the main Democrat donors of 2022, it has become undeniable that America possesses a two-tiered justice system, with political allegiance playing a decisive role.
Democratic narrative
A second trial of SBF is simply not necessary, as proceedings would be based on duplicated evidence that can be considered in the judge's sentencing. In fact, a second trial would actually be counterproductive in the pursuit of justice because it would delay forfeiture and restitution orders for his victims.
