Prosecutors have claimed that founder 's are 'meritless.' In papers filed in Manhattan federal court on Monday, 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.'
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