Sam Bankman-Fried, the indicted Founder of the now-bankrupt
crypto exchange FTX, may be staring at a “very long sentence” if
convicted of fraud. The judge overseeing the trial starting next week expressed
uncertainty about Bankman-Fried’s future, suggesting serious consequences.
The comments by US District Judge Lewis Kaplan came in
response to a request from the 31-year-old former billionaire, who sought
temporary release from jail during the trial to facilitate closer coordination
with his defense team.
Kapla denied this request, deeming Bankman-Fried a flight
risk. “Your client in the event of conviction could be looking at a very
long sentence,” Judge Kaplan cautioned during a hearing at the Manhattan
federal court.
Bankman-Fried, who has maintained his innocence, faces seven
counts of fraud and conspiracy arising from the collapse of FTX in November
2022. If convicted, he could potentially be sentenced to a maximum of 110 years
in prison, Reuters reported. While his legal team had argued for temporary release, citing the need for comprehensive trial preparations, Judge Kaplan
acknowledged their concerns.
To address this, he committed to facilitating early morning
meetings between Bankman-Fried and his attorneys, allowing crucial discussions
and strategizing to occur before the commencement of trial proceedings.
SBF Accused of Witness Tampering
Danielle Kudla, the prosecutor, pointed out…
