Sam Bankman-Fried took the witness stand during his criminal trial on Thursday, but the jury had been sent home by U.S. District Judge Lewis Kaplan in order to assess whether certain topics should be precluded from Bankman-Fried’s testimony tomorrow. During the hearing, Bankman-Fried’s lead lawyer Mark Cohen of Cohen & Gresser walked his client through several topics, such as meetings Bankman-Fried had with regulators in the Bahamas last November and advice he received from counsel at FTX. Bankman-Fried’s testimony tomorrow could be a make-or-break moment as he tries to score points with the jury, as he faces a maximum sentence of 110 years in prison across seven fraud and conspiracy charges. He stands accused of pilfering billions of dollars of funds from FTX’s customers. Judge Kaplan said he would determine tomorrow what aspects of Bankman-Fried’s testimony are proper, and the jury could hear Bankman-Fried speak on Friday.
This news indicates that the criminal trial for Sam Bankman-Fried is coming to a close, as the jury is to hear testimonies from him on Friday. The jury being sent home on Thursday was to allow Judge Kaplan to assess what topics should be precluded from Bankman-Fried’s testimony. Bankman-Fried is facing several fraud and conspiracy charges, and his testimony on Friday could make or break his case. This is good news as it signals the end of the trial, but it remains to be seen if Bankman-Fried will be found guilty or acquitted.
You can read more about this topic here: Decrypt: Sam Bankman-Fried Testifies During Special Hearing—After The Jury Is Sent Home