Sam Bankman-Fried will not face a second trial

FILE PHOTO: Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, leaves the Manhattan federal court in New York City, U.S. March 30, 2023. REUTERS/Amanda Perobelli/File Photo

NEW YORK (Reuters) -U.S. prosecutors said they do not plan to conduct a second trial against Sam Bankman-Fried, who was convicted last month of stealing from customers of his now-bankrupt FTX cryptocurrency exchange.

In a letter filed on Friday night in federal court in Manhattan, prosecutors said the "strong public interest" in a prompt resolution of their case against the 31-year-old former billionaire outweighed the benefits of a second trial.