Key takeaways:
- Sam Bankman-Fried was found guilty on November 2 of federal fraud charges. He will not be pursuing any post-trial arguments.
- In light of SBF’s conviction on November 2 and his impending sentencing on March 28, this filing is the most recent.
Sam Bankman-Fried (SBF), the former CEO of FTX, was found guilty on November 2 of federal fraud charges. He will not be pursuing any post-trial arguments.
SBF’s attorneys stated in a letter dated December 1 to Judge Lewis Kaplan of the United States District Court for the Southern District of New York that they had “decided not to file any post-trial motions” but that they still reserved the ability to bring allegations in an appeal.
In light of SBF’s conviction on November 2 and his impending sentencing on March 28, this filing is the most recent.
Prosecutors may or may not proceed with SBF’s second trial in March. The indictment against the former CEO of FTX was divided into two parts, with seven counts filed in October and five charges filed in March. If the case is found guilty in November, SBF may already be facing decades in prison.
Following the jury’s decision, SBF was brought back to the Brooklyn Metropolitan Detention Center, where he is anticipated to stay until his sentencing.
Crypto blogger Tiffany Fong spoke with Gene Borrello, a former mob enforcer, on November 30. Borrello shared some of SBF’s experiences while incarcerated. Another prisoner, according to Borrello, tried to extort the former CEO of FTX.
During his pretrial imprisonment period at the Brooklyn Metropolitan Detention Center, SBF was worried about his safety and even thought about paying another prisoner for protection.
One of the first well-known cryptocurrency CEOs in the US to be charged with a crime was SBF. Former Celsius CEO Alex Mashinsky was taken into custody by the authorities in July, and he is still out on bail pending his criminal trial in September 2024. As part of a settlement between US officials and Binance, Changpeng Zhao resigned as CEO and entered a guilty plea to one criminal charge. He will be sentenced in February.
