Crypto Lawyer Predicts Lengthy Prison Sentence for Sam Bankman-Fried
Crypto lawyer John E. Deaton believes that Sam Bankman-Fried, the founder of FTX, is likely to spend several decades in prison. A 12-person jury unanimously found Bankman-Fried guilty on all seven counts, and Deaton argues that his reliance on his own testimony and the possibility of a hung trial sealed his fate. A hung trial occurs when one or more jury members find the defendant innocent, prolonging deliberation and the trial. Deaton stated that he expects Bankman-Fried to receive a sentence of at least 30-40 years, although he will gladly admit his error if the sentence is lower. According to Deaton’s analysis, Bankman-Fried had three options: plead guilty and hope for leniency from the court, deny the charges and aim for a hung trial by convincing one juror of his innocence, or cooperate with the Justice Department on campaign finance charges in exchange for a lighter sentence.
Possible Resurfacing of Campaign Finance Charges
During the trial, campaign finance charges against Bankman-Fried were temporarily dropped due to pressure from the Bahamas government. However, evidence presented during witness testimony suggested that FTX customer funds were used to provide expensive incentives to Bahamian government officials. As a result, there is speculation that these allegations could resurface in a separate trial following Bankman-Fried’s sentencing, which is expected in March 2024. When asked about this possibility, Damian Williams, United States Attorney for the Southern District of New York, declined to comment. Another expert, David Lesperance from Lesperance & Associates, estimated that Bankman-Fried could face around 20 years in prison. The final decision rests with District Judge Lewis A. Kaplan and will be delivered within 90 days of the verdict.
Hot Take: Sam Bankman-Fried’s Future Behind Bars
Following his conviction on all counts, it seems increasingly likely that Sam Bankman-Fried will face a lengthy prison sentence. Crypto lawyer John E. Deaton believes that Bankman-Fried could receive a minimum of 30-40 years behind bars for his actions. This prediction is based on Bankman-Fried’s choice to rely on his own testimony and pursue a hung trial strategy. While there is speculation about the potential resurfacing of campaign finance charges in a future trial, the immediate focus is on the upcoming sentencing hearing scheduled for March 2024. The final outcome will be determined by District Judge Lewis A. Kaplan, who will deliver the sentence within 90 days of the verdict. Until then, the crypto community awaits the resolution of this high-profile case.
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