The Sam Bankman-Fried trial begins with the jury selection process
Soon, 12 judges will decide the fate of FTX founder Sam Bankman-Fried. This morning authorities began the process of selecting a jury for the trial.
The long-awaited six-week Bankman-Fried trial finally began. He was indicted on serious charges including money laundering, money laundering and securities fraud.
The jury will decide whether Sam Bankman-Fried will spend his life in prison
According to the Financial Times, officials are vetting potential jurors from New York's various walks of life. The citizens will face questions to identify any possible biases as members of the judiciary.
Bankman-Fried's lawyers submitted their opinion to the court. The questions are intended to investigate citizens who have lost money in crypto or whose friends or family have suffered losses due to crypto trading.
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Defense attorney Brendan Quigley of Baker Botts;
“You'll have ordinary New Yorkers. . . For those of you who have no crypto investments, you may have heard something about this in the news but haven't been following it closely.
FTX Founder's attorneys have made several attempts to get FTX Founder's pre-trial release. However, U.S. District Judge Lewis Kaplan denied the requests on a variety of risk factors, including Bankman-Fried's escape.
Various legal experts believe Sam Bankman-Fried could face more than 100 years in prison if convicted on all charges. In January 2023, the FTX founder pleaded not guilty to eight felony charges, including wire fraud and money laundering.
Bankman-Fried and his legal team could mount a strong defense. However, his fate is now in the hands of the judges.
Read more: FTX Collapse Explained: How the Sam Bankman-Fried Empire Collapsed
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