Judge Refuses Lengthier Sentencing Request for Sam Bankman-Fried

• FTX Ex-CEO's Request for Sentencing Delays Rejected by Federal Judge
• Extension Request Filed by Bankman-Fried's Attorneys
• Bankman-Fried Convicted on Seven Charges
• Denial of Motion by District Judge

FTX Ex-CEO's Request for Sentencing Delays Rejected by Federal Judge

In a recent development, Sam Bankman-Fried, the former CEO of FTX$3.28 -5.38%, had his plea for extending his sentencing process turned down by a federal judge. He also sought to postpone a presentencing interview with the U.S. Probation and Pretrial Services System, which is responsible for recommending a sentence.

Extension Request Filed by Bankman-Fried's Attorneys

On Wednesday, Bankman-Fried's attorneys submitted a letter requesting an extension. They stated that he is potentially facing a second trial on additional charges which is earmarked for March 11. Furthermore, they asked for a deferral of a presentence interview scheduled for Thursday, as well as other deadlines.

The letter explained, Mr. Bankman-Fried should not begin the sentencing process on the counts of conviction, including the presentence interview, until the severed counts are resolved. Doing so could possibly result in a separate Presentence Report (PSR) and a separate sentencing hearing on conduct that was already part of the Government's proof at trial.

Bankman-Fried Convicted on Seven Charges

Last month, Bankman-Fried was convicted on seven charges of fraud and conspiracy. Prosecutors alleged that he misused funds from FTX customers and investors, as well as lenders' funds from Alameda Research.

Denial of Motion by District Judge

District Judge Lewis Kaplan, who presides over the case in the Southern District of New York, declined the motion. In his statement, he noted that the defense did not raise objections when the March 28 date was originally set.

The judge communicated that if the Department of Justice decides to proceed to a second trial on charges of bank fraud and the Foreign Corrupt Practices Act conspiracy, sentencing may be deferred. He affirmed, The defendant has already had over six weeks to prepare for the presentence interview, which shall occur tomorrow as scheduled.

Edited by Jonathan Stoker