Former SEC attorney forecasts Sam Bankman-Fried's trial

Former SEC attorney forecasts Sam Bankman-Fried's trial

former SEC attorney John Reed Stark on Monday released a detailed forecast of how Sam Bankman-Fried's criminal trial will play out.

The disgraced ex-boss of defunct cryptocurrency exchange FTX faces sweeping fraud charges that could collectively earn him a lifetime in prison. Although Stark faces his day in court, he said the founder's chances of acquittal are low.

She admitted in her publicly leaked diary that she felt unequipped to run Alameda, the SBF-owned crypto trading desk deeply tied to the fraud. SBF was revoked after leaking her diary to the media, resulting in her arrest for witness tampering.

Stark said Ray has probably handed most of his findings to the government, offering access to a mountain of inculpatory evidence against SBF.

Lastly, Bankman-Fried has likely already incriminated himself through his post-FTX 'Public relations campaign,' during which he engaged in multiple interviews with independent journalists, legacy media, and Twitter sites in an effort to clear his name.

His hours of on-the-record explanations and responses open up major opportunities for impeachment-providing evidence that reveals inconsistencies and falsehoods in a person's statements over time, Stark said.

Jordan Estes, a partner at the law firm Kramer Levin, said Ellison's presence could add drama to the case that would ultimately align the jury against the FTX founder. She added: ''Mr. Smith is the only person who has been attracted to my attention.