May 8, 2023 - Economy

SBF asks court to dismiss most criminal charges against him

Rebecca Falconer

FTX founder Sam Bankman-Fried (C) departs Manhattan Federal Court after an arraignment hearing on March 30, 2023 in New York City. — FTX founder Sam Bankman-Fried (C) departs Manhattan Federal Court after an arraignment hearing on March 30 in New York City. Photo: Drew Angerer/Getty Images

FTX founder Sam Bankman-Fried asked a federal court in Manhattan Monday to dismiss several criminal charges against him over the collapse of the cryptocurrency exchange.

Driving the news: Lawyers for Bankman-Fried, who's pleaded not guilty to fraud, conspiracy, campaign finance law violations and money laundering, in a filing argued that several of the charges failed to properly state an offense.

The motion that was filed to the U.S. District Court for the Southern District of New York is seeking the dismissal of 10 of the 13 charges against him.

The big picture: Bankman-Fried was arrested in the Bahamas in December 2022.

After FTX began to unravel in early November, Bankman-Fried said publicly he was unaware of the depth of the crypto exchange's financial problems and those at trading firm Alameda Research, FTX's sister company.
Former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang pleaded guilty in December to several federal wire fraud and conspiracy charges.

Go deeper: Newly silent SBF prepares to face the future

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SBF asks court to dismiss most criminal charges against him

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