Judge Warns Bankman-Fried Could Face Over 100 Years in Jail as Fraud Trial Begins Next Week

Sam Bankman-Fried may face a "very long sentence" if convicted at his fraud trial starting next week, the judge said.
The judge denied Bankman-Fried's request to be temporarily released from jail during the trial to help his defense.
Prosecutors say Bankman-Fried stole billions in FTX customer deposits to plug losses at his hedge fund Alameda Research.
Bankman-Fried pleaded not guilty to 7 counts of fraud and faces up to 110 years in prison if convicted.
Three former members of Bankman-Fried's inner circle have pleaded guilty to fraud and will testify against him at the trial starting October 3.

nypost.com

Relevant topic timeline:

9/21/2023

Sam Bankman-Fried to Stay Jailed Pending Trial After Appeals Court Upholds Witness Tampering Concerns

Sam Bankman-Fried, founder of bankrupt cryptocurrency exchange FTX, has been upheld in jail by a U.S. appeals court ahead of his fraud trial for tampering with witnesses and looting customer funds.

10/5/2023

FTX Co-Founder Admits to Fraud Under Direction of Sam Bankman-Fried, Giving Alameda Secret Advantages

Sam Bankman-Fried, the CEO of FTX, is being accused of committing multiple financial crimes by a key witness, Gary Wang, who admitted to wire fraud, securities fraud, and commodities fraud under Bankman-Fried's direction. The witness's testimony supports the government's allegations of a scheme to defraud investors through FTX and its ties to Alameda Research.

10/7/2023

Prosecutors Paint SBF as Fraud Mastermind; Defense Says He's a Nerd Who Was In Over His Head

Sam Bankman-Fried, founder of failed cryptocurrency exchange FTX, is on trial for a $10 billion fraud, with prosecutors portraying him as a mastermind who squandered customers' money, while his lawyers argue that he was an inexperienced tech founder who acted in good faith.

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Posted 9/28/2023, 5:21:00 PM