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HomeFinance NewsPotential jail duration for Sam Bankman-Fried assessed by cryptocurrency experts.

Potential jail duration for Sam Bankman-Fried assessed by cryptocurrency experts.

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FTX founder Sam “SBF” Bankman-Fried is about to face a jury trial for his involvement in the collapse of his $32-billion crypto exchange. The trial begins on October 4, with Bankman-Fried facing seven charges that could potentially result in a maximum sentence of 115 years in prison. Legal experts believe that the judge is unlikely to be lenient, considering the severity of the charges. Bankman-Fried’s reputation took a major hit when his exchange collapsed and filed for bankruptcy, leaving a $10-billion hole.

According to lawyers, if found guilty of fraud, Bankman-Fried could potentially spend the rest of his life behind bars. The severity of the sentence will depend on the severity of the crime and how the defendant behaved during the trial. The fact that Bankman-Fried has been accused of tampering with witnesses does not bode well for him. Additionally, his defense may argue that others in the crypto industry were engaged in similar activities and that the regulations were unclear, but legal experts believe these defenses may not hold up.

Bankman-Fried is facing a total of seven fraud charges, with the burden of proof resting on the government. Two charges are substantive, meaning the prosecution must prove Bankman-Fried committed them, while the rest are conspiracy allegations, requiring proof of planning with others. Bankman-Fried’s defense is likely to portray him as a scapegoat influenced by others who have pled guilty and highlight his personality traits to depict him as easily influenced and immature. However, legal experts believe these defense strategies may not be convincing to a jury.

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