New York (CNN) — Sam Bankman-Fried is ready to fulfill the jury that may resolve his destiny.
Legal professionals for SBF&#’;s fraud trial have chosen 12 jurors and 6 alternates, set to be sworn in Wednesday morning. After a short recess, federal prosecutors and protection attorneys are anticipated to make their opening statements.
The US authorities has charged Bankman-Fried with a number of counts of fraud and conspiracy, following the implosion of his crypto-trading platform, FTX, final yr.
Legal professionals will now lay out their instances to the court docket in carefully watched statements that provide a preview of how the following a number of weeks will play out.
Prosecutors say Bankman-Fried, who’s 31, stole roughly $8 billion price of buyer funds to cowl dangerous bets by his crypto hedge fund, purchase luxurious actual property within the Bahamas and donate tens of thousands and thousands of {dollars} to US political campaigns.
Bankman-Fried has pleaded not responsible to seven counts of fraud and conspiracy, and his protection is anticipated to echo statements he has made to the press and in weblog posts since his arrest in December final yr.
The previous crypto billionaire has repeatedly solid himself as a slipshod businessman who made a sequence of errors of judgment although by no means knowingly dedicated fraud.
Authorized specialists say Bankman-Fried&#’;s attorneys have their work minimize out for them. The largest impediment: A minimum of 4 former high-ranking enterprise associates have pleaded responsible in cooperation with prosecutors and plan to testify towards their former boss.
This story is growing and shall be up to date.
The-CNN-Wire
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