Jury selection for Sam Bankman-Fried trial continues

Jury selection for Sam Bankman-Fried trial continues

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

The United States District Court for the Southern District of New York is expected to choose 12 jurors and six alternates through the process, which is expected to end on Oct. 4.

On Oct. 31, Judge Lewis Kaplan dismissed several potential jurors, among them, as a result of conflicts of interest and other reasons. Many potential jurors said they or their family members had suffered financial losses in the cryptocurrency market.

voir dire, the selection process, has raised various topics, ranging from personal beliefs to financial difficulties that may affect potential jurors' ability to serve. The investigation has drawn attention to several potential witnesses and individuals connected to the case, including Assistant U.S. Attorney Danielle Sassoon.

It remains uncertain whether SBF will testify, even though he has previously declared his innocence. The trial is expected to last up to six weeks, with opening statements expected soon after jury selection.

Prosecutors argue that this case is one of history's most significant financial fraud cases. If convicted, SBF could be sentenced to more than 100 years in prison.

On the first day of Sam Bankman-Fried's trial, prosecutors said they never considered offering a plea deal to the former FTX CEO.

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

Former SEC official on SBF's trial:

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

Testimonies from former executives of FTX and Alameda, which have confessed their involvement, are 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 filed several requests before his criminal trial, challenging and seeking clarification on some of the judge's rulings.

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

The attorneys are also suing the prosecutor for allowing FTX customers to testify on their expectations of how the cryptocurrency exchange would manage their assets.

They resisted the inclusion of video evidence from an unidentified Ukrainian user, citing Sixth Amendment concerns and potential undue sympathy from jurors given the geopolitical situation in Ukraine.