Home Finance News FTX Founder Faces 6-Week Trial, Maximum 13 Words

FTX Founder Faces 6-Week Trial, Maximum 13 Words

FTX Founder Faces 6-Week Trial, Maximum 13 Words

Former FTX CEO Sam “SBF” Bankman-Fried will be involved in a lengthy criminal trial lasting from October 4th to November 9th. The trial will address seven fraud charges against Bankman-Fried, including two substantive charges where the prosecution must prove his guilt. The trial calendar shows that there will be 15 full trial days in October and six in November, with breaks on weekends and public holidays.

Bankman-Fried has been held in pre-trial detention since August 11th and has made several attempts to be temporarily released. However, his latest motion was denied by United States District Judge Lewis Kaplan, who expressed concerns about the possibility of Bankman-Fried fleeing given his age and the potential for a long sentence if convicted. Despite this, Kaplan has allowed Bankman-Fried to arrive early at court to consult with his lawyers before testimony begins.

The prosecution estimates that the trial could last four to five weeks, and Bankman-Fried faces a maximum sentence of 110 years in prison if found guilty of the charges. This trial follows the collapse of FTX and Bankman-Fried’s plea of not guilty to the fraud and conspiracy charges.

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