Free pizza and Ubers: Judge will hold jurors past 8 p.m. as Sam Bankman-Fried trial enters final stretch
Free pizza and Ubers: Judge will hold jurors past 8 p.m. as Sam Bankman-Fried trial enters final stretch


Indicted FTX founder Sam Bankman-Fried arrives on the United States Courthouse in New York City, July 26, 2023.

Amr Alfiky | Reuters

The authorities is paying for pizza and Uber rides dwelling for the 12 jurors in decrease Manhattan who will resolve the destiny of Sam Bankman-Fried.

In courtroom on Thursday, U.S. District Judge Lewis Kaplan instructed jurors he would maintain them till 8:15 p.m. as the (*8*) of the FTX founder enters its final stretch. Kaplan had beforehand hinted on the expedited timeline, whereas reassuring the jury that he wasn’t speeding anybody.

Closing arguments wrapped up on Wednesday, adopted by the prosecution’s rebuttal Thursday morning. Now the trial strikes to jury directions and then deliberations.

No proceedings are scheduled for Friday due partly to a juror’s conflicting schedule. Should deliberations final past Thursday night, they might resume on Monday.

Bankman-Fried, the 31-year previous son of two Stanford authorized students, faces a possible life sentence if convicted on costs, which embody wire fraud, securities fraud and cash laundering, all tied to the collapse late final 12 months of FTX and sister hedge fund Alameda Research. He pleaded not guilty.

The trial, which started a few month in the past, has largely pitted the testimony of Bankman-Fried’s former shut mates and high lieutenants in opposition to the sworn statements of their former boss and ex-roomate.

The authorities’s key witnesses included Caroline Ellison, Bankman-Fried’s ex-girlfriend and the previous head of Alameda, FTX co-founder Gary Wang, who was Bankman-Fried’s childhood pal from math camp, and former FTX engineering chief Nishad Singh. All three pleaded guilty to a number of costs and cooperated as witnesses for the prosecution.

FTX founder Sam Bankman-Fried is questioned by protection lawyer Mark Cohen as he testifies in his fraud trial over the collapse of the bankrupt cryptocurrency alternate, at federal courtroom in New York City, U.S., October 30, 2023 on this courtroom sketch. 

Jane Rosenberg | Reuters

In the federal government’s rebuttal Thursday morning to the protection’s closing argument, Assistant U.S. Attorney, Danielle Sassoon reminded the jury concerning the coronary heart of the case. Billions of {dollars} of buyer cash from Bankman-Fried’s crypto alternate went lacking.

Telling prospects that their property are secure and then taking that cash and utilizing it for private and different firm expenditures shouldn’t be an affordable enterprise determination — however fraud, Sassoon stated.

The defendant had the “conceitedness to assume that he may get away with fraud,” she stated. He needed affect and energy, and Sassoon referred to the testimony of a witness, who stated Bankman-Fried thought he may sometime be president.

Sassoon responded to the protection’s argument that cooperating witnesses have been incentivized accountable Bankman-Fried with the intention to reduce their sentence, calling these allegations “outrageous.”

“If you imagine Caroline, the defendant is responsible,” Sassoon instructed the jury in her rebuttal. “If you imagine Gary, the defendant is responsible. If you imagine Nishad, the defendant is responsible.”

Sassoon added that Ellison, as a co-conspirator, operated in dread and fear ready for purchasers to appreciate their cash was gone. 

One of Bankman-Fried’s major defenses was that he made errors, primarily associated to danger administration and in not hiring a chief danger officer. Sassoon says that is not a protection — it was a technique.

“If you are embezzling cash, after all you are not going to have a chief danger officer,” she stated.

Sassoon ended by telling jurors that Bankman-Fried thought he may idiot prospects, reporters, the general public and now them.

“Don’t fall for it,” she stated. “Find him responsible.”

After Sassoon wrapped up her rebuttal, the decide moved into one of many trial’s final phases, a step recognized as charging the jury. The multi-hour course of includes studying jurors a 60-page set of directions. When he is accomplished, the jury will enter deliberations till they land on a verdict.

WATCH: Prosecutors, defense paint different versions of Sam Bankman-Fried



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