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Sam Bankman - Fried ’s trial is done , and he was foundguilty on seven charges . But it ’s not over yet for the former FTX CEO .
Bankman - Fried wo n’t be doom till March 28 , but he also has a 2nd tryout , currently scheduled for March 11 , where he faces extra charges , including for foreign graft . The U.S. Department of Justice has until February 1 to decide whether it contrive to continue with that trial run . Brendan Quigley , a former public prosecutor for the Southern District of New York , recollect prosecutor will go with that typesetter’s case .
A “ variety of formal wiseness ” would think the Union prosecutors and Bankman - Fried would match on a settlement , but Quigley said onTechCrunch ’s Chain Reaction podcastthat there could be challenges to that .
“ I think you could see some pushing from the SDNY not to just take the air away from these charges , ” Quigley tell . Bankman - Fried is n’t in a position to plead guilty , either — and probably wo n’t — seeing as how he ’s going to appeal his current conviction .
During the SBF trial , former Alameda Research CEO Caroline Ellison testified that the crypto trading firmpaid Chinese officialsto get their Alameda trading accounts on OKX and Huobi in China unbarred . Bankman - Fried was CEO in 2020 when the story , valued around $ 1 billion , were frozen , Ellison bear witness .
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While Judge Lewis Kaplan noted at the time that the suspect has not been institutionalise in the first compositor’s case with graft of Formosan officials , it is a major claim that could be brought up if there ’s a 2d trial .
The main outcome to come will be the sentencing and see how argument regulate up in joining to them , Quigley said . “ At the end of the daytime , for him every yr matter , ” and it will continue to be an “ rising struggle ” for the former billionaire .
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