As Sam Bankman Fried grapples with his current predicament, the path forward appears to lead back to prison with the possibility of another trial looming in March. His legal representatives stand their ground, ready to fervently dispute the allegations laid against him.
Sam Bankman-Fried has once again been relegated to his New York federal detention quarters following a conviction on all seven criminal charges. His legal counsel, Mark Cohen, firmly reiterated on November 2nd that Sam Bankman-Fried denies all wrongdoing and is prepared to relentlessly defend himself against the charges.
The Path to an Appeal
In the event that Sam Bankman-Fried decides to appeal post-sentencing, the first course of action would be to file an appeal notice in the New York district court that handed down the recent conviction.
The trial’s culmination on November 2nd saw Sam Bankman-Fried receive a verdict of guilty as charged. Damian Williams, the United States Attorney, characterized Sam Bankman-Fried as a monumental financial fraudster, orchestrating what he termed a multi-billion-dollar crypto deception.
Sam Bankman-Fried now potentially faces a second trial on March 11, confronting additional charges, including bribery conspiracy and fraudulent banking practices. Judge Lewis Kaplan has given prosecutors until February 1, 2024, to decide whether to initiate the second trial.
Sentencing Scenarios for Sam Bankman Fried
Should Sam Bankman Fried enter a plea of guilty, it may lead to a lighter sentence. Following the guilty verdict, the prosecution is set to recommend a sentence by March 15, with the sentencing hearing slated for March 28, 2024. Judge Kaplan will have the final say in determining the duration of Sam Bankman Fried’s imprisonment. If sentenced consecutively, Sam Bankman Fried could be facing up to 110 years.
Alternatively, Kaplan could rule for concurrent sentencing, which would significantly reduce the time, especially since the crimes including wire fraud carry a maximum of 20 years each.
Kathryn Haun, a crypto venture capitalist and former federal prosecutor, speculated on November 2nd that Sam Bankman-Fried is likely facing many years in prison.
Behind Bars Conditions
In the interim, Sam Bankman Fried will continue to be held at the Brooklyn Metropolitan Detention Center, where he has been since August 11 for breaching bail conditions. Kaplan has made comments on the facility’s standard, which is far from luxurious. Sam Bankman Fried has previously reported issues with access to appropriate medical care and vegan meals.
Legal Community Insights
Prior to Sam Bankman Fried’s trial in September, legal analysts had differing opinions on the possible length of his sentence. Michael Kanovitz anticipated the maximum possible sentence, while Jeremy Hogan suggested that Sam Bankman-Fried, although unlikely to face the maximum sentence, would be incarcerated for a significant time, potentially well over a decade. (Source)