April 19, 2024
high-stakes trial of former FTX CEO Sam Bankman-Fried
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Sam Bankman-Fried’s Lengthy Trial Schedule Unveiled: 21 Days in Court

The former FTX CEO, Sam Bankman-Fried, is scheduled to undergo a criminal trial that will extend for a minimum of 21 days. This trial is set to commence on October 4th and is expected to conclude on November 9th, as detailed in a recently published trial calendar available on the public court docket.

The trial calendar, made public on September 28th, kicks off on October 3rd with the selection of the jury. The official commencement of Bankman-Fried’s trial begins on October 4th, during which proceedings will revolve around the discussion of seven fraud charges against him.

Within these charges, there are two substantial cases where the prosecution must present convincing evidence to the jury that Bankman-Fried committed the crimes. The remaining five charges are categorized as conspiracy charges, necessitating the prosecution to persuade the jury that Bankman-Fried had conspired to commit these offenses.

The trial schedule encompasses 15 full days in October and an additional six in November. There will be a break from October 20th to October 25th, with no court sessions during weekends or on public holidays, including October 9th and November 10th. Moreover, there is no trial scheduled for November 3rd. Since August 11th, the former FTX CEO has been in pre-trial detention at the Metropolitan Detention Center.

Throughout this period, Bankman-Fried and his legal team have submitted multiple requests for temporary release to adequately prepare for the upcoming trial. However, United States District Judge Lewis Kaplan denied his latest request on September 28th, expressing concerns about the possibility of Bankman-Fried being a flight risk, primarily due to his young age and the potential for a lengthy prison sentence if found guilty.

Nonetheless, Judge Kaplan did acknowledge his sympathy for the defense’s concerns. As a result, he granted Bankman-Fried permission to arrive at court at 7 a.m. local time on most trial days to consult with his lawyers before the start of testimony. During the hearing on September 28th, assistant U.S. Attorney Danielle Kudla stated that the Department of Justice estimated the trial could last for four to five weeks.

SBF, who has entered a plea of not guilty to seven counts of fraud and conspiracy in the aftermath of FTX’s collapse, faces a statutory maximum prison sentence of 110 years.

Image by pixabay

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