Prosecutors drop another charge against FTX co-founder Sam Bankman-Fried

Federal prosecutors dropped a campaign concern charge against indicted crypto enforcement and FTX laminitis Sam Bankman-Fried precocious connected Wednesday, the 2nd clip that they've been forced to forgo transgression allegations against the alleged fraudster.

The charge, conspiracy to marque unlawful run contributions, could person added 2 to 5 years to Bankman-Fried's imprisonment if convicted. Federal prosecutors had alleged that Bankman-Fried funneled hundreds of millions of dollars successful bipartisan run financing done 2 unnamed co-conspirators to debar run publication limits.

The run concern usurpation was added to the docket against Bankman-Fried successful a December superseding indictment, anterior to different superseding indictment which alleged Bankman-Fried violated anti-bribery statutes to wage disconnected a Chinese authorities official.

Both the run concern complaint and bribery complaint person present been dropped aft Manhattan national prosecutors failed to get support from the Bahamas authorities to prosecute the charges.

"The Government has been informed that The Bahamas notified the United States earlier contiguous that The Bahamas did not mean to extradite the suspect connected the run contributions count. Accordingly, successful keeping with its pact obligations to The Bahamas, the Government does not mean to proceed to proceedings connected the run contributions count," national prosecutors said successful a Wednesday letter to District Judge Lewis Kaplan.

The procedural slip-up narrows the charges against the erstwhile billionaire, who national prosecutors allege conspired to defraud investors and customers retired of billions of dollars. The allegedly fraudulent strategy precipitated the collapse of Bankman-Fried's crypto exchange, FTX, and sent shockwaves passim the crypto industry.

Since Bankman-Fried's detention and extradition, civil and transgression charges person been brought against a coterie of exchanges, advisors, and individuals for crypto-related schemes. Former FTX executives, including apical lieutenants Caroline Ellison, Gary Wang, and Nishad Singh person each pleaded blameworthy to national charges. They are cooperating with the government's prosecution against Bankman-Fried.

Bankman-Fried is expected to look proceedings aboriginal this year.