Judge dismisses SBF’s arguments to dismiss criminal charges as irrelevant.

A federal judge has rejected a request from former FTX CEO Sam Bankman-Fried’s legal team to dismiss most of the criminal charges against him. Judge Lewis Kaplan issued a memorandum opinion on June 27th, denying the motions to dismiss 10 out of the 13 criminal counts against Bankman-Fried. These included wire fraud, conspiracy to commit wire fraud, and violations of campaign finance laws. The judge cited precedent from the US Court of Appeals for the Second Circuit and stated that dismissal of charges is an “extraordinary remedy” reserved for only limited circumstances. Bankman-Fried will face all eight of the original charges, four added in February 2023, and one added in March 2023. The last five counts will be addressed in a separate trial scheduled to start in March 2024. Bankman-Fried has pleaded not guilty to all charges. Following the conclusion of his criminal trials, both the US Securities and Exchange Commission and Commodity Futures Trading Commission are expected to bring civil lawsuits against him. FTX’s bankruptcy case is also ongoing in the District of Delaware.

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