Sam Bankman-Fried trial ends without final jury selection

Sam Bankman-Fried trial ends without final jury selection

The trial of Sam Bankman-Fried ended without a final jury selection, which will continue for another day.

The U.S. District Court for the Southern District of New York plans to select 12 jurors and six alternates through the process, which will end on Oct. 4.

Judge Lewis Kaplan sacked several potential jurors on Oct. 3 due to conflicts of interest and other reasons. There were many potential jurors who said they or their family members had suffered financial losses in the cryptocurrency market.

voir dire, the selection process, has raised several topics, such as personal beliefs and financial hardships that could affect potential jurors' ability to serve. The assistant U.S. Attorney, Danielle Sassoon, identified several potential witnesses and individuals connected to the case, highlighting the extensive scope of the investigation.

It remains unknown if SBF will testify - although he has previously declared his innocence. The trial is expected to last for up to six weeks, with opening statements expected soon after jury selection.

Prosecutors contend this is one of history's most significant financial fraud cases. SBF could be sentenced to more than 100 years in prison if found guilty of all charges.

On the first day of Sam Bankman-Fried's trial, prosecutors said they didn't offer a plea deal to the former FTX CEO.

This is a significant revelation, especially given that some of his former associates have accepted plea deals and are anticipated to be witnesses during the trial.

Former SEC officials on SBF's trial:

John Reed Stark, a former SEC official, predicts that SBF, the former CEO of FTX, will face conviction in the upcoming trial.

The key reasons are testimonies from former employees of FTX and Alameda who have confessed their involvement, Incriminating evidence from the new FTX CEO, John Ray III, and SBF's public appearances that might have inadvertently provided more evidence for the prosecution.

SBF's defense team has asked several questions before his criminal trial, challenging and seeking clarification on some of the judge's rulings.

Among these are reconsiderations about evidence linked to the regulation in the U.S., assets from FTX's bankruptcy proceedings, and the inclusion of his charitable activities.

The lawyers have also challenged the Prosecutor's motion to let FTX customers testify on their expectations of how the cryptocurrency exchange would manage their assets.

The U.S. gov't also argued for the inclusion of video testimony from an unnamed Ukrainian user, citing Sixth Amendment concerns and potential undue sympathy from jurors given the geopolitical situation in Ukraine.