Closing Arguments to Begin Tomorrow in SBF Trial
The jury is set to deliberate shortly in the trial of FTX founder Sam Bankman-Fried, with closing arguments scheduled for first thing Wednesday morning.
The defense rested its case mid-day Tuesday following weeks of testimony from former FTX executives, including former Alameda Research CEO, Caroline Ellison, FTX co-founder and former chief technology officer, Gary Wang, and former head of engineering for FTX, Nishad Singh.
On Tuesday afternoon, Judge Kaplan, the government, and the defense held a charge conference to further determine instructions for the jury before they begin their deliberations. The jury was sent home mid-day as the parties hammered out final details.
It is unclear how long the jury may take before reaching a verdict, however, Bankman-Fried finds himself in a challenging position, with less than 1% of federal criminal defendants acquitted in 2022.
If convicted, Bankman-Fried faces a maximum sentence of over 100 years in prison.
Bankman-Fried has continually deflected responsibility off of himself, instead shifting blame towards co-conspirators Ellison, Singh, and Wang, while insisting he acted in good faith with no intent to defraud anyone.
However, Ellison, Singh, and Wang, all testified against their former boss under a cooperation agreement with the US government in hopes of a reduced sentence.
According to Tim Enneking, Managing Partner at Psalion and CEO of Presearch.com Inc., Ellison’s testimony was “the most damaging.”
“She appears to have worn many hats in her relationship with Mr. Bankman-Fried,” Enneking shared.
During her time on the witness stand, Ellison painted Bankman-Fried as a “distant” boyfriend during their years-long tumultuous relationship. Moreover, she claimed she was made to feel
Read more on cryptonews.com
