On the first day of the highly anticipated trial of Sam Bankman-Fried, the U.S. government confirmed that it did not offer any plea deals to the defendant. The trial, taking place at the Southern District of New York, started off slowly with the process of jury selection. The atmosphere in the court room was somber, with discussions limited to the judge, the parties involved, and the potential jurors.
Key Takeaway
The U.S. government has confirmed that no plea deals were offered to Sam Bankman-Fried in his ongoing trial.
Bankman-Fried, known for his casual attire, appeared in court dressed in a suit and tie, a departure from his usual cargo pants and t-shirt. He remained mostly silent throughout the proceedings, speaking only once to acknowledge his understanding of his right to testify if he wished to do so.
The trial itself is expected to last less than six weeks, according to Judge Kaplan. While he expressed optimism that it might conclude before Thanksgiving, he acknowledged that the duration of a trial is not always predictable. Despite the seriousness of the seven charges brought against Bankman-Fried, Judge Kaplan maintained a lighthearted and amicable demeanor in the courtroom. He cautioned the potential jurors against researching the case or using electronic devices to seek out news related to the trial.
Several potential jurors revealed that they were already familiar with the widely publicized case, having learned about it through various media outlets. Notably, one potential juror disclosed that her employer, venture capital and private equity firm Insight Partners, had investments in FTX and its sister company Alameda. This revelation underscores the close ties between the trial and the financial industry.
Judge Kaplan expects that the selection of 12 jurors and six alternates will be finalized by the end of the day or early Wednesday morning, paving the way for the opening statements from both parties.
