The collapse of FTX and Alameda Research under the leadership of Sam Bankman-Fried (SBF) has brought a historical case in the crypto sphere. The fate of SBF, a crypto figure whose life has been marred by a series of villainous dramatic events, now teeters on the precipice of judgment.
As the final act of his theatrical journey draws to a close, the spotlight shifts to a group of 12 jurors, individuals whose collective decisions will shape the course of his future. Will justice be served, or will the final act of this captivating Washington, D.C., and crypto crime theatrical escapade leave the crypto community with more questions than answers?
SBF’s theatrics near the end – Jurors selection
On Wednesday morning, jury selection for the trial of disgraced crypto kingpin Sam Bankman-Fried came to a close. Reportedly, a pregnant physician’s assistant, a train conductor, and a retired investment banker are among the 12 individuals who will ultimately determine Sam Bankman-Fried’s fate.
On October 4, the second day of the trial in Manhattan, 12 jurors were selected from a selection of 45. Additionally, there are 6 substitute jurors. The potential jurors were each given a minute to introduce themselves by discussing their background, age, employment, education, relationship history, and children. So, who made the cut?
The 12 jurors consist of 9 women and 3 men between the ages of 33 and 69, with the following backgrounds (names withheld for privacy reasons):
1. A 39-year-old female physician assistant, 10 weeks pregnant, with a background in medicine and a web developer’s spouse.
2. A nurse of 33 years old who lives alone in Westchester, New York.
3. A social worker in her forties who is currently unemployed.
4. A 53-year-old, divorced, full-time stay-at-home mother of two children with a background in non-profit fundraising administration and is a graduate of Duke University.
5. A 59-year-old married man with three children, one of whom is a bank employee.
6. A 50-year-old woman who sells tickets at the Metro-North station and is the mother of five children, three of whom reside at home and two of whom attend college.
7. A single, 47-year-old high school librarian lives with her cat, sister, and ailing mother.
8. A retired corrections officer of 65 years old and mother of three children.
9. A 61-year-old unmarried Postal Service employee with no children.
10. A 55-year-old female special education instructor from Bermuda with a bachelor’s degree from the University of Waterloo and two master’s degrees from New York University and Seton Hall.
11. A 69-year-old male investment executive from Hong Kong, who attended Rice University and Stanford University, was diagnosed with non-Hodgkin’s lymphoma after being married and childless.
12. A 43-year-old Ukrainian woman with two children, residing in the United States for 15 years and working in IT at Bloomberg.
Is there any legal progress?
The creator of FTX came in court with newly cropped hair, dressed in a grey suit and patterned tie. SBF sat in front of a laptop for most of the session, looking through court documents. Even when glancing over his shoulder at prospective jurors or speaking with the four solicitors seated by his side, SBF maintained his hands on the laptop.
District Court Judge Lewis A. Kaplan then met with prosecutors and Bankman-Fried’s defense attorneys to discuss jury selection before announcing the final 12 jury members about 15 minutes later.
Following the selection of the jury members, the prosecutors and defense had a 15-minute opening statement. Afterward, Judge Kaplan heard testimony from Marc Julliard, a cocoa broker who lost around $80,000 to FTX, and Adam Yedidia, Bankman-Fried’s former close friend.
SBF’s criminal trial is likely to last six weeks. He is facing seven fraud-related charges for his role as CEO in FTX’s November bankruptcy.
FTX, once one of the most prominent and well-known crypto exchanges, declared bankruptcy in November of last year.
Apparently, he did not steal -Imagine that!!
SBF did not steal billions from his own clients because he had “good faith” that a trading firm he controlled could use funds deposited with his cryptocurrency exchange.
This was the argument made by Bankman-Fried’s defense attorney as the criminal trial of the 31-year-old crypto entrepreneur began with opening statements on Wednesday.
Sam didn’t defraud anyone. Sam didn’t intend to defraud anyone. There was no theft. Sam and others made hundreds of decisions a day. Some things were overlooked.
Mark Cohen, Bankman-Fried’s defense attorney
The defense strategy that emerged in the Manhattan courtroom on Wednesday was to portray the fallen crypto star as a math nerd who did his best to guide a rapidly expanding startup through a chaotic period in the crypto markets, making decisions on the run.
