Disgraced FTX Founder Sam Bankman-Fried’s Trial Begins Without Plea Deal Discussions
The trial of Sam Bankman-Fried (SBF), the disgraced founder of FTX, commenced without any discussions regarding a plea deal. Inner City Press provided coverage of the courtroom exchange between Judge Kaplan and SBF’s legal representatives.
SBF Maintains His Innocence
According to Inner City Press, SBF has consistently pleaded not guilty throughout the trial preparations. The courtroom dialogue was transcribed and shared on X (formerly Twitter).
During the trial proceedings, it appears that only SBF, his lawyers, Judge Lewis Kaplan, and law clerks were present in the room. The jurors were expected to enter shortly.
“Judge Kaplan: The jurors are on their way up. But first, Mr. Bankman-Fried, you have a right to testify, it’s your call…”
Jurors Face Intensive Workload and Minimal Compensation
The jurors faced a series of questions regarding their ability to serve on the trial jury considering the compensation involved. Judge Kaplan mentioned that individuals experiencing financial hardship may not be suitable for jury duty.
It was revealed in the courtroom that jurors would only receive “$50 to $60 a day” as compensation for their service.
Some jurors admitted to having personal connections or knowledge related to the case but assured they could remain impartial. One juror learned about the case through a podcast, another worked for a company that invested in FTX and Alameda Research, and another was a recruiter for an investment firm.
Hot Take: Juror Screening Focused on Bias-Free Selection
Potential jurors in New York for SBF’s trial underwent screening by US authorities to ensure the absence of bias towards SBF or FTX entities. The emphasis was on excluding individuals who may have suffered financial losses from cryptocurrency and those closely connected to such losses, including friends and family members.
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