Former FTX CEO Sam “SBF” Bankman-Fried to Face Trial
Former FTX CEO Sam “SBF” Bankman-Fried is set to go on trial for at least 21 days, starting from October 4th until November 9th. The trial calendar, which was recently released, reveals that jury selection will take place on October 3rd. The trial will officially begin on October 4th and will focus on seven fraud charges against Bankman-Fried.
Charges and Trial Schedule
The prosecution must convince the jury of two substantive charges, while five other charges are related to conspiracy. The trial will consist of 15 full days in October and six in November. There will be breaks between October 20th and 25th, as well as on weekends and public holidays.
Pre-Trial Detention and Temporary Release
Bankman-Fried has been in pre-trial detention since August 11th at the Metropolitan Detention Center. He has made several attempts to be temporarily released to prepare for his trial, but these requests have been denied by Judge Lewis Kaplan. The judge expressed concerns about Bankman-Fried being a flight risk due to his young age and the potential for a lengthy sentence if convicted.
Judge’s Sympathy and Trial Duration
Despite denying the temporary release requests, Judge Kaplan granted permission for Bankman-Fried to arrive at court early to consult with his lawyers before testimony begins. The Department of Justice estimates that the trial could last four to five weeks.
Possible Sentence
If convicted on all charges, Bankman-Fried could face a maximum sentence of 110 years in prison.
Hot Take: Bankman-Fried’s Lengthy Trial Ahead
Former FTX CEO Sam “SBF” Bankman-Fried is gearing up for a lengthy trial as he faces seven fraud charges. With the trial scheduled to last at least 21 days, Bankman-Fried’s legal battle will stretch from October 4th to November 9th. Despite his attempts to secure temporary release, he remains in pre-trial detention due to concerns about flight risk. The trial will consist of two substantive charges and five conspiracy charges, with the prosecution aiming to prove his guilt. It remains to be seen how this high-profile trial will unfold and what the potential outcome could mean for Bankman-Fried.
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