SBF charges may be dropped upon objection by the Bahamas, according to US prosecutors

United States prosecutors have decided to drop some of the charges against former FTX CEO Sam Bankman-Fried if the Bahamas government objects to them. This decision was revealed in a document filed on May 29 in the U.S. District Court for the Southern District of New York. The document was filed in response to a May 8 defense motion that had tried to dismiss some of Bankman-Fried’s charges. The defense had argued that four of the charges, including ones related to bribing Chinese officials and violating campaign finance laws, were not in the original indictment that had been the basis for Bankman-Fried’s extradition.

However, prosecutors argued that the treaty between the U.S. and the Bahamas does not prevent the U.S. from charging a defendant with additional crimes after extradition, as long as they are not “detained, tried, or punished” for these additional crimes without the consent of the extraditing country. Prosecutors said they are currently seeking a specialty waiver from the Bahamas that would allow them to try Bankman-Fried for three of the four charges the defense objected to. The charges that require a waiver from the Bahamas include conspiracy to commit bank fraud, conspiracy to operate an unlicensed money-transmitting business, and conspiracy to violate the Foreign Corrupt Practices Act.

Prosecutors also argued that Bankman-Fried lacks standing to challenge any of these charges as a treaty violation, as they claim that only the Bahamas government has standing to challenge them. A hearing on the motion to dismiss is scheduled for June 15. Bankman-Fried is the founder and former CEO of crypto exchange FTX.

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