News - Sam Bankman-Fried's lawyers try to split the lawsuit

By Sam Fröling

Sam Bankman-Fried's lawyers try to split the lawsuit

FTX
Laws and regulations

The lawyers for FTX founder Sam Bankman-Fried want six of the 12 charges to be tried in the Bahamas. With this demand, they are mainly buying time.

The defense of former CEO of FTX, Sam Bankman Fried wants six charges from the upcoming trial transferred to the Bahamian judiciary. This is contained in a document the lawyers filed June 12 with a federal court in New York.

The prosecution admitted on May 29 that it needed Bahamian permission to try Bankman-Fried for five of the crimes he is accused of. These are charges that the prosecution filed only after Bankman-Fried's extradition to the United States. The U.S. needs special permission from the Bahamas to do so. The defense then petitioned the Bahamas Supreme Court to order the government to prohibit the arrest warrant.

If The Bahamas rejects the attempt, it "could probably be months or years" before more clarity on this comes, as lawyers could then begin to challenge the decision.

Defense suggests alternative strategy

The defense offered the following alternative strategy. If the U.S. District Court believes it cannot dismiss the charges, it should separate them from the upcoming trial. Bahamian authorities would then have to decide whether to take the relevant charges to trial.

Bankman-Fried's trial is scheduled for October 2023. A prison term of up to 115 years hangs over his head. The crypto exchange he founded, FTX, is registered in the Bahamas.

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