‘Unanimous Verdict, Your Honor’: Sam Bankman-Fried’s Conviction Was Inevitable

Sam Bankman-Fried is guilty.

Twelve jurors spent less than five hours deciding the facts. They asked for portions of transcripts from Paradigm’s Matt Huang and Third Point’s Robert Boroujerdi testimony, as well as highlighters and Post-it Notes, and when they didn’t immediately receive the version of the indictment, they requested that too.

And yet, they quickly decided that Bankman-Fried was guilty on all seven counts. He defrauded FTX’s customers and conspired to defraud them. He defrauded Alameda Research’s lenders and conspired to defraud them. He conspired to defraud FTX’s investors and customers and to conceal the proceeds by laundering funds.

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The outcome seemed inevitable. The U.S. Department of Justice had a fully fleshed out case, while the defense – as we’ve said for weeks – seemed to struggle. Judge Lewis Kaplan visibly appeared to lose his patience with the defendant (though he said Thursday he wouldn’t share any personal views on the verdict). I wasn’t personally in the courtroom when Bankman-Fried testified, nor when defense attorney Mark Cohen gave his closing. But my colleagues who were say that some of the jurors looked at the clock during the closing argument. Bankman-Fried’s inability to answer certain questions – and I say inability in the sense that if he acknowledged some of AUSA Danielle Sasoon’s questions, he’d open himself to follow-ups, and if he denied them, he’d open himself to claims of lying – don’t seem to have endeared him to anyone. His particular speaking style – trying to answer the question he hoped he’d be asked – sparked admonitions from the judge.

The case isn’t over. A sentencing hearing has been tentatively scheduled for next March. And Bankman-Fried faces another trial on additional charges around the same time.

And, as the court prepared to disperse Thursday, defense attorney Cohen asked about post-trial motions (he has a few weeks). We’ll almost certainly see an appeal.

But as I said, this outcome seemed inevitable. The judge decided to keep the jury around until 8 p.m., instead of ending the day at 4:30 p.m. as usual. The court clerk…