SBF sees some charges dropped

Author

Jay Lutz
June 19, 2023

SBF sees five charges dropped

Federal prosecutors in New York have made a surprising offer in the case against embattled crypto executive Sam Bankman-Fried. In an attempt to expedite proceedings, they propose dropping several criminal charges against him for now, on the condition that they can be tried later.

Following a recent ruling in the Bahamas, where Bankman-Fried has been challenging additional charges, prosecutors have decided to sever five of the 13 charges. These charges include allegations of bank fraud and bribery of the Chinese government.

During a hearing on Thursday, prosecutor Nathan Rehn stated that the decision of the Bahamian authorities regarding the new charges remains uncertain. As a result, it seems appropriate to temporarily separate those counts given the developments in the Bahamas this week.

You can read more on the matter here.

Terra Balcanica operates in Bosnia and Serbia, two mining friendly yet under explored jurisdictions located in southeastern Europe where it acquired and is currently exploring a portfolio of high-grade polymetallic projects. The company has 90% interest in its flagship Viogor-Zanik Project in Bosnia and Herzegovina where it is conducting a phase two drill program.

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FULL DISCLOSURE: Terra Balcanica Resources is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Terra Balcanica Resources. The author has been compensated to cover Terra Balcanica Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.