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- 1 Select Charges Against SBF should be dropped, says U.S. Prosecutors.
- 2 The argument to drop the charges is based on the extradition treaty.
The legendary case of SBF got interesting when his lawyers argued for some charges to be dropped, citing an extradition treaty with the Bahamas. On December 13, 2022, Bankman-Fried was arrested by the Banamian police and kept at Fox Hill prison. He was brought to the United States on December 20, 2023, via an extradition treaty between them. The argument to drop charges is initiated, keeping the extradition treaty at the center.
SBF Could Have Few Charges Dropped – Bahamian Extradition Treaty
As per the documents filed in the United States District Court for Southern District New York (SDNY) on May 29, 2023, U.S. State Prosecutors could drop select charges against the former crypto white night and the infamous CEO of now-bankrupt crypto exchange FTX.
The document in question is filed in response to the defense motion of May 8, 2023, arguing to dismiss four charges against Sam. As per the defense, the list includes bribing Chinese Officials and violating financing laws relating to political campaigning during U.S. mid-term election. Both of these were not mentioned in the extradition papers’ original indictment.
Hence, the defense argued that the charges violated the extradition treaty between the United States and the Bahamas. Furthermore, they say that the charges shall be dismissed.
However, the prosecutors state that the treaty does not prevent the U.S. from adding certain charges after the extradition. Provided that the convict is not “detained, tried, or punished” for the added crimes without first consenting to the extraditing country.
The prosecutors are requesting a specialty waiver from the Bahamian authorities, as it would free Bankman from select charges. Also, the charges would not be lifted, and he will be tried for them if the Commonwealth of Bahamas denies the request.
The three charges requiring a green signal from the Bahamian authorities include the,
- Count 9 – Conspiracy to Commit Bank Fraud.
- Count 10 – Conspiracy to Operate an Unlicensed Money Transmitting Business.
- Count 13 – Conspiracy to violate the Foreign Corrupt Practices Act.
However, the remaining charges were listed in the original indictment, and the diplomatic note shall remain as it is. Also, the note is the basis on which Sam was extradited and did not require waivers. The stand of Bahamian authorities on this request is yet to be seen.
In the defense motion filed on May 8, 2023, Bankman’s attorneys argued that the charges regarding campaign finance were also not listed on the surrender warrant “Schedule of Charges” agreed upon by the defendant at the time. However, prosecutors claimed that the new charges were mentioned in the diplomatic note and were agreed upon by Sam in the open court during extradition. Hence the charges shall not be dismissed.
Prosecutors further argue that neither Sam Bankman-Fried nor his team of lawyers is entitled to challenge the charges of treaty violation. Only the government of the Bahamas has the right to do so. Further hearing on the motion to dismiss the charges is scheduled for June 15 at SDNY.
The hearing on the FTX saga case is scheduled for October 2023. Former accomplices Ex-Alameda Research CEO & Sam’s Girlfriend, Caroline Ellison and former co-founder Gary Wang have pleaded guilty to the charges. Also, they are now witnesses against Sam Bankman Fried in the case.