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US prosecutors on Friday did not plan to pursue a second trial against Sam Bankman-Fried, who was charged last month with stealing from customers of the now-bankrupt FTX cryptocurrency exchange.
In a letter filed in federal court in Manhattan, prosecutors said the strong public interest in a prompt resolution of the case outweighed the benefits of a second trial.
Interest “weighs particularly heavily here” because Bankman-Fried's scheduled sentencing in March 2024 could include forfeiture and restitution orders for victims of his crimes, they said.
![Banker-Fried stands with her attorneys after the verdict was read Nov. 2.](https://nypost.com/wp-content/uploads/sites/2/2023/12/ftx-founder-sam-bankman-fried-71697284.jpg?w=1024)
It said most of the evidence to be presented in the second trial was already presented in the first trial.
Attorneys for Bankman-Fried did not immediately respond to requests for comment.
Jurors on Nov. 2 convicted Banker-Fried on all seven counts he faced, with prosecutors accusing him of stealing $8 billion from FTX clients out of sheer greed.
The ruling comes nearly a year after FTX filed for bankruptcy, in a meltdown that rocked markets and wiped out Bankman-Fried's once-$26 billion personal fortune.
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