Sam Bankman-Fried will face a total of seven different charges in the criminal trial set to begin on October 4th. If the court finds Bankman-Fried guilty on all charges, he could be sentenced to 115 years in prison.
Can the Prosecution Prove Conspiracy Allegations?
Among Bankman-Fried’s charges are seven different fraud allegations, and according to some attorneys, if the prosecution can prove the conspiracy allegations, it appears likely that all these charges could result in a conviction.
However, Michael Kanovitz stated in his comments that things do not look good for Bankman-Fried.
“If the government finds him guilty of fraud, he may well spend the rest of his life behind bars.”Michael Kanovitz
Trials Could Last 5 Weeks
The trial is estimated by the Department of Justice to last between four to five weeks. While Sam Bankman-Fried has requested temporary release to better prepare his defense, all of these requests have been denied on the grounds of a flight risk.
“If things start to go south, Sam Bankman-Fried may attempt to flee.”
Attorneys from law firms regarding Bankman-Fried’s case are suggesting that the outcome of the trial could be unfavorable, and the government may take a tough stance against him.
Lastly, news about the collapse of FTX and Bankman-Fried’s charges are being closely followed by the crypto community, and the potential sentence that emerges from the trial could have a significant impact on the crypto sector and serve as a precedent for other cases.