Jury Begins Deliberations for a Verdict in Sam Bankman-Fried’s Trial

A jury of nine women and three men began deliberating a verdict on Thursday afternoon in the criminal fraud trial of Sam Bankman-Fried, the disgraced entrepreneur who has been accused of stealing as much as $10 billion in customer funds from his FTX crypto exchange.

Jurors are deciding whether to convict Mr. Bankman-Fried on seven charges of fraud and conspiracy. If they do not reach a decision by Thursday evening, deliberations will resume on Monday.

All 12 jurors must agree to convict or acquit Mr. Bankman-Fried on each of the seven charges. If even one juror is not in agreement, it would result in a hung jury.

Federal prosecutors have accused Mr. Bankman-Fried of taking billions of dollars in customer deposits from FTX to fund investments, political donations and luxury real estate. The exchange failed last year, leaving many customers unable to recover their money, and turning Mr. Bankman-Fried’s case into a referendum on the excesses of the volatile crypto industry.

Sahred From Source link Technology

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