Attorneys who represent former FTX CEO Sam Bankman-Fried are attempting to dismiss 10 of the 13 charges filed against the disgraced cryptocurrency entrepreneur.
Several firms controlled by Bankman-Fried imploded at the end of last year after customers and investors learned that FTX had improperly commingled funds with sister trading company Alameda Research. Lawyers for Bankman-Fried asserted in a Monday court filing that the original indictment levied against the entrepreneur came from a “classic rush to judgment” and that the case involved “civil and regulatory issues” rather than federal crimes.
“Rather than wait for traditional civil and regulatory processes following their ordinary course to address the situation, the government jumped in with both feet,” the filing asserted. “Each of the charges contained boilerplate recitals of statutory language, followed by literally one sentence purportedly describing the basis for the charge.”
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