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Free pizza and Ubers: Choose will maintain jurors previous 8 p.m. as Sam Bankman-Fried trial enters ultimate stretch



Indicted FTX founder Sam Bankman-Fried arrives at the US Courthouse in New York Metropolis, July 26, 2023.

Amr Alfiky | Reuters

The federal government is paying for pizza and Uber rides house for the 12 jurors in decrease Manhattan who will determine the destiny of Sam Bankman-Fried.

In courtroom on Thursday, U.S. District Choose Lewis Kaplan informed jurors he would hold them till 8:15 p.m. because the prison trial of the FTX founder enters its ultimate stretch. Kaplan had beforehand hinted on the expedited timeline, whereas reassuring the jury that he wasn’t speeding anybody.

Closing arguments wrapped up on Wednesday, adopted by the prosecution’s rebuttal Thursday morning. Now the trial strikes to jury directions after which deliberations.

No proceedings are scheduled for Friday due partly to a juror’s conflicting schedule. Ought to deliberations final past Thursday night, they might resume on Monday.

Bankman-Fried, the 31-year previous son of two Stanford authorized students, faces a possible life sentence if convicted on expenses, which embody wire fraud, securities fraud and cash laundering, all tied to the collapse late final 12 months of FTX and sister hedge fund Alameda Analysis. He pleaded not responsible.

The trial, which started a few month in the past, has largely pitted the testimony of Bankman-Fried’s former shut buddies and high lieutenants in opposition to the sworn statements of their former boss and ex-roomate.

The federal government’s key witnesses included Caroline Ellison, Bankman-Fried’s ex-girlfriend and the previous head of Alameda, FTX co-founder Gary Wang, who was Bankman-Fried’s childhood good friend from math camp, and former FTX engineering chief Nishad Singh. All three pleaded responsible to a number of expenses and cooperated as witnesses for the prosecution.

FTX founder Sam Bankman-Fried is questioned by protection lawyer Mark Cohen as he testifies in his fraud trial over the collapse of the bankrupt cryptocurrency change, at federal courtroom in New York Metropolis, U.S., October 30, 2023 on this courtroom sketch. 

Jane Rosenberg | Reuters

Within the authorities’s rebuttal Thursday morning to the protection’s closing argument, Assistant U.S. Legal professional, Danielle Sassoon reminded the jury in regards to the coronary heart of the case. Billions of {dollars} of buyer cash from Bankman-Fried’s crypto change went lacking.

Telling prospects that their belongings are secure after which taking that cash and utilizing it for private and different firm expenditures shouldn’t be an affordable enterprise determination — however fraud, Sassoon stated.

The defendant had the “conceitedness to assume that he may get away with fraud,” she stated. He wished affect and energy, and Sassoon referred to the testimony of a witness, who stated Bankman-Fried thought he may sometime be president.

Sassoon responded to the protection’s argument that cooperating witnesses have been incentivized in charge Bankman-Fried as a way to reduce their sentence, calling these allegations “outrageous.”

“In the event you imagine Caroline, the defendant is responsible,” Sassoon informed the jury in her rebuttal. “In the event you imagine Gary, the defendant is responsible. In the event you imagine Nishad, the defendant is responsible.”

Sassoon added that Ellison, as a co-conspirator, operated in dread and concern ready for patrons to understand their cash was gone. 

One in all Bankman-Fried’s primary defenses was that he made errors, primarily associated to danger administration and in not hiring a chief danger officer. Sassoon says that is not a protection — it was a technique.

“In the event you’re embezzling cash, after all you are not going to have a chief danger officer,” she stated.

Sassoon ended by telling jurors that Bankman-Fried thought he may idiot prospects, reporters, the general public and now them.

“Do not fall for it,” she stated. “Discover him responsible.”

After Sassoon wrapped up her rebuttal, the decide moved into one of many trial’s ultimate phases, a step often called charging the jury. The multi-hour course of entails studying jurors a 60-page set of directions. When he is carried out, the jury will enter deliberations till they land on a verdict.

WATCH: Prosecutors, protection paint totally different variations of Sam Bankman-Fried

Prosecutors, defense paint different versions of Sam Bankman-Fried


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