Per Business Insider

The Assistant US Attorneys for the Department of Justice have withdrawn five out of the 13 charges against Sam Bankman-Fried. These charges were in relation to the financial fraud of FTX.

Initially, SBF was facing 13 criminal charges, but five of them would be dropped in time for his trial on October 2. This was due to accusations submitted only after his extradition from the Bahamas.

Among the withdrawn charges include bank fraud and bribery conspiracy. As for the latter, it was alleged that the disgraced CEO spent $40 million on at least one Chinese government official.

Recently, Bloomberg reported that SBF won a ruling in the Bahamas. The ruling gave him the ability to make the argument that their government "shouldn't consent to the five newer charges."

So far, the lawyers of SBF are still trying to request a dismissal of the charges against the disgraced FTX founder.

At the end of 2022, it was reported that SBF allegedly cashed out $684,000 from a crypto exchange in Seychelles while still under house arrest. This would violate his released conditions of not spending over $1,000 without court permission.

Recently, it was reported that FTX was considering restarting its crypto exchange in the second quarter.

See flow at unusualwhales.com/flow.

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