Sam Bankman-Fried is set to appear in court for his criminal trial starting on October 4. He has been in pre-trial detention since August 11 and has unsuccessfully sought temporary release. The judge denied his latest release motion due to concerns about flight risk. Bankman-Fried will have limited meetings with his legal team during active court days. FTX, the cryptocurrency exchange he co-founded, collapsed in November 2022 after facing liquidity issues. Bankman-Fried is facing seven charges, including fraud and conspiracy, related to the collapse. The trial is expected to involve several witnesses, including former FTX clients, investors, and staff. If convicted, Bankman-Fried could face a maximum sentence of over 100 years in prison. Legal experts believe this trial could be one of the most significant fraud cases in U.S. history. Bankman-Fried maintains his innocence and has pleaded not guilty to all charges.
Sam Bankman-Fried FTX trial — 5 things you need to know
