What’s next for the ‘crypto king’ Sam Bankman-Fried?
Sam Bankman-Fried is back in his federal prison cell in Brooklyn after being found guilty for all seven charges in his criminal trial. His lawyers however, say the fight isn’t yet over.
Bankman-Fried’s attorney Mark Cohen said in a Nov. 2 statement that Bankman-Fried “maintains his innocence and will continue to vigorously fight the charges against him."
If Bankman-Fried follows through then it’s possible he will appeal after being sentenced. The first step would see the FTX co-founder file a notice of appeal in the New York District Court where he was just found guilty.
STATEMENT FROM THE TEAM OF SAM BANKMAN-FRIED —
“We respect the jury’s decision. But we are very disappointed with the result. Mr. Bankman Fried maintains his innocence and will continue to vigorously fight the charges against him." pic.twitter.com/Q69w6nKB34
Bankman-Fried was hit with a guilty verdict from the jury on late Nov. 2 in New York. United States Attorney Damian Willaims called Bankman-Fried one of the biggest financial frauds in American history and perpetrator of “a multibillion-dollar scheme designed to make him the king of crypto."
Bankman-Fried faces the possibility of an another criminal trial slated for March 11 on five charges of bribery conspiracy, conspiracy to operate an unlicensed money-transmitting business, bank fraud conspiracy along with derivatives and securities fraud.
New York District Court Judge Lewis Kaplan gave government prosecutors a Feb. 1, 2024 deadline to confirm if they will still pursue the second trial.
If that goes ahead, Bankman-Fried has the option to plead guilty which could help reduce his sentence.
As for the recent guilty verdict — prosecutors will recommend a sentence by March 15, and will see Bankman-Fried will
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