Prosecutors say Sam Bankman-Fried's arguments to dismiss cryptocurrency charges are meritless

NEW YORK (AP) — Sam Bankman-Fried’s lawyers made meritless arguments in a bid to convince a judge to toss out criminal charges alleging that the FTX founder stole from investors in his multibillion dollar cryptocurrency fund, federal prosecutors said Monday. 

In papers filed in Manhattan federal court, prosecutors responded to early May filings in which Bankman-Fried’s lawyers insisted that the United States overreached in its case against Bankman-Fried, making federal crimes out of regulatory issues. 

“These motions are meritless,” prosecutors wrote in a nearly 100-page filing. “The charges track the relevant statutes and the defendant’s alleged misconduct falls within the heartland of what these statutes prohibit.” 

Bankman-Fried, 31, has been living with his parents in Palo Alto, California, after posting a $250 million personal recognizance bond after his December extradition from the Bahamas.