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HomeFinance NewsFTX Founder's Trial Set for 6 Weeks, Limited to 13 Words

FTX Founder’s Trial Set for 6 Weeks, Limited to 13 Words

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Former FTX CEO Sam “SBF” Bankman-Fried is set to face a criminal trial that will span 21 days, starting from October 4 and ending on November 9, according to a recently released trial calendar. The trial will commence with jury selection on October 3, followed by discussions of the seven fraud charges laid against Bankman-Fried on October 4. Of these charges, two are substantive and require the prosecution to prove Bankman-Fried’s guilt, while the remaining five involve proving his involvement in conspiracy to commit the crimes. The trial will consist of 15 full trial days in October and six in November, with breaks during weekends and public holidays.

Bankman-Fried has been in pre-trial detention since August 11 and has filed various motions for temporary release to prepare for his trial. However, his latest attempt was denied by United States District Judge Lewis Kaplan, who cited Bankman-Fried’s young age and the potential for a significant prison sentence as reasons for him being a flight risk. Despite this, Kaplan granted Bankman-Fried the permission to arrive at court early on most trial days to consult with his attorneys. The trial is expected to last four to five weeks, with Bankman-Fried facing a maximum sentence of 110 years in prison if convicted.

Overall, the trial calendar reveals that Bankman-Fried’s criminal trial will be an extensive process spanning several weeks, during which the prosecution will present evidence and arguments to prove the fraud charges against him. Bankman-Fried’s detention and denied requests for temporary release indicate the seriousness of the case, with concerns about his potential flight risk. While he has been granted limited access to his lawyers before testimony begins, the trial will proceed according to the released schedule, with breaks on weekends, public holidays, and October 20-25.

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