Crypto lawyer John E. Deaton opined that Sam Bankman-Fried is most probably to spend a number of a long time in jail after a 12-person jury unanimously discovered FTX’s founder responsible on all seven counts.
Deaton’s view is that Bankman-Fried sealed his destiny by relying on his testimony and on the possibilities of a hung trial. A hung trial happens when a number of jury member finds the defendant harmless subsequently prolonging deliberation and a trial.
“I’ll come again and eat my phrases if he will get decrease than 10 years however I feel conservatively, he will get at the very least 30-40 years,” stated the crypto lawyer on X Areas. Deaton posited that Bankman-Fried selected the trail with the lengthiest attainable sentence.
FTX’s former boss had three choices per Deaton’s evaluation: Plead responsible and financial institution on the court docket’s mercy, deny the allegations and battle for a hung trial by convincing one juror of his innocence, or cooperate with the Justice Division on political donations and marketing campaign finance prices for a lighter sentence.
Notably, prosecutors momentarily ditched marketing campaign finance prices as a result of stress from the Bahamas authorities. Throughout witness testimony in United States v Sam Bankman-Fried, proof pointed to costly incentives directed to Bahamian authorities officers apparently funded with FTX buyer money and crypto.
As such, followers of the case have surmised that marketing campaign finance violation allegations might resurface as a full-blown trial following Bankman-Fried’s sentencing which is anticipated in March 2024.
When requested in regards to the prospects of this taking place following Nov. 3’s verdict, Damian Williams, United States Legal professional for the Southern District of New York, declined to reply.
Deaton’s opinion echoed assertions from Lesperance & Associates managing director David Lesperance who instructed crypto.information that Bankman-Fried faces round 20 years behind bars. Regardless of the case, all eyes are on the court docket sentencing due from District Choose Lewis A. Kaplan inside 90 days of the decision.
There are additionally questions on whether or not Bankman-Fried’s jail sentence would run concurrently or consecutively.