- The DoJ has announced that the prosecutors do not plan to pursue a second trial for Sam Bankman-Fried.
- John Deaton criticized the department’s move and called it a disgrace.
- The department based its move on the strong public interest for the immediate resolution of the case.
John Deaton, an XRP attorney known for his stark comments against the Securities and Exchange Commission (SEC), has now turned his voice against the Department of Justice (DoJ). In light of the US prosecutors’ recent decision on Sam Bankman-Fried’s second trial, Deaton asked, “Who is the Attorney General protecting?”
On December 29, the US Department of Justice informed Judge Kaplan that the prosecutors do not plan to pursue a second trial against Sam Bankman-Fried, the former CEO of the defunct crypto exchange FTX. The filing stated that the “strong public interest” for the immediate resolution of the case had influenced the DoJ’s decision.
The prosecutors added that the affected institutions and individuals have been eagerly waiting for their reimbursement since the fall of FTX in 2022. The letter read, “Given that practical reality, and the strong public interest in a prompt resolution of this matter, the Government intends to proceed to sentencing on the counts for which the defendant was convicted at trial.”
In November 2022, investors began withdrawing their funds from FTX following the exposition of the alleged connection between FTX and Alameda Research, finally leading to a debacle. Bankman-Fried was subsequently arrested on allegations of fraud and conspiracy.
While in November 2023, Bankman-Fried was found guilty of all the charges he was accused of, the second trial scheduled for March 2024 was supposed to address an additional set of criminal counts. However, the department has decided not to go forward with the trial and to proceed with his sentencing.
Deaton, in his X post, described the DoJ’s decision as a “disgrace.” Sharing his disagreement with the move, he added, “The DOJ has shown again that it is NOT an independent agency.”
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