Federal prosecutors have decided not to pursue additional criminal charges against Sam Bankman-Fried that were not covered in his previous trial.

What Happened: According to a Wall Street Journal report,  in a letter to the U.S. District Judge Lewis Kaplan, Federal Prosecutors on Friday wrote, “The Government has concluded that the public interest in a prompt resolution of this matter outweighs the interest in holding a separate trial.”

Bankman-Fried is slated for sentencing on March 28. The FTX founder confronts a potential sentence that could span decades, given his conviction on seven criminal counts related to the misappropriation of billions from FTX customers. He was found guilty on charges including wire fraud, conspiracy to commit wire fraud, securities fraud, commodities fraud, and money laundering. 

Currently, he awaits sentencing in a federal jail in Brooklyn.

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Why It Matters: Among the initial charges, Bankman-Fried also faced accusations of misusing client funds for massive political donations. 

Robert F Kennedy Jr addressed the dismissal of such charges in response to an X post by @Watcher.Guru, which said that “Sam Bankman-Fried donated $100 million in stolen customer funds to US politicians. Today, the US Government announced they’re dropping six charges against SBF and will not prosecute him for a political campaign finance violation.”

RFK Jr. responded, “No one is even surprised. THAT is a bigger problem than the fraud itself. It shows how normalized corruption has become.”

Earlier in August Bankman-Fried was indicted by federal authorities for redirecting client assets exceeding $100 million into campaign funding during the 2022 U.S. midterm elections.

Price Action: At the time of writing, Bitcoin (CRYPTO: BTC) was trading at $45,212, down 0.51% in the last 24 hours, according to Benzinga Pro.

Photo by Ringo Chiu on Shutterstock

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