FTX Founder Sam Bankman-Fried Faces Two US Trials with Reduced Charges

Federal prosecutors have agreed to drop five out of the 13 charges against FTX founder, Sam Bankman-Fried, including a bank fraud count and a foreign government bribery charge. However, prosecutors are requesting a second trial for those charges in 2024. Bankman-Fried has pleaded not guilty to charges that he cheated investors and looted customer deposits on FTX to make lavish real estate purchases, donate money to politicians, and make risky trades at Alameda Research, his cryptocurrency hedge fund trading firm. The case against Bankman-Fried is complex, with over six million pages of evidence, including emails, Slack messages, and a handwritten diary of his lieutenant and sometimes-girlfriend, Caroline Ellison.