SBF Bombshell: US Gov’t Gives Jury Directions in FTX Trial

In preparation for the October trial of Sam Bankman-Fried, co-founder of FTX, the U.S. government prosecutors have outlined their proposed instructions to the jury.

The prosecutors have submitted a comprehensive 100-page document on August 21st, detailing their desired directions for Judge Lewis Kaplan to provide to the jury during Bankman-Fried’s trial. These instructions draw upon Judge Kaplan’s previous guidance to juries in similar cases.

The filing delves into a breakdown of the charges against Bankman-Fried, which encompass fraud, money laundering conspiracy, wire fraud, commodities fraud, and securities fraud.

For each specific charge, the prosecutors have recommended how Judge Kaplan should present the accusations to the jury, the essential elements or burden of proof required to establish Bankman-Fried’s guilt, and the supporting evidence relevant to each individual charge.

Additionally, there were suggested directions outlining how the jury should review the proof, deliberate, and reach a verdict on whether to find Bankman-Fried guilty or not on each count.

These suggestions are common in criminal trials, but Judge Kaplan will ultimately decide how he will teach the jury. Prior to his trial commencing on October 2nd, the former head of FTX, Sam Bankman-Fried, has been imprisoned. Additionally, he is slated to face a separate trial in March 2024, addressing five additional charges. Bankman-Fried has entered a plea of not guilty to all accusations.

He is currently being detained at the Brooklyn Metropolitan Detention Center. Following allegations by prosecutors that he disclosed diary entries from Caroline Ellison, the former CEO of Alameda Research, to The New York Times, Judge Kaplan revoked Bankman-Fried’s bail on August 11th.