Choose to remain late in Sam Bankman-Fried trial

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

In court docket on Thursday, U.S. District Choose Lewis Kaplan instructed jurors he would maintain them till 8:15 p.m. because the felony 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 dashing 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 partially to a juror’s conflicting schedule. Ought to deliberations final past Thursday night, they’d 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 yr of FTX and sister hedge fund Alameda Analysis. He pleaded not responsible.

The trial, which started a couple of month in the past, has largely pitted the testimony of Bankman-Fried’s former shut pals and prime 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 pal 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.

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 alternate went lacking.

Telling clients that their property are protected after which taking that cash and utilizing it for private and different firm expenditures is just not an inexpensive enterprise resolution — however fraud, Sassoon mentioned.

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

Sassoon responded to the protection’s argument that cooperating witnesses had been incentivized responsible Bankman-Fried with a view to reduce their sentence, calling these allegations “outrageous.”

“For those who consider Caroline, the defendant is responsible,” Sassoon instructed the jury in her rebuttal. “For those who consider Gary, the defendant is responsible. For those who consider Nishad, the defendant is responsible.”

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

One among Bankman-Fried’s foremost 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 method.

“For those who’re embezzling cash, in fact you are not going to have a chief danger officer,” she mentioned.

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

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

After Sassoon wrapped up her rebuttal, the choose moved into one of many trial’s ultimate phases, a step referred to as charging the jury. The multi-hour course of includes studying jurors a 60-page set of directions. When he is achieved, the jury will enter deliberations till they land on a verdict.

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