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SBF Verdict: Guilty
Celebration and Disappointment after SBF Trial
Coincidences and Sentencing
After 15 days of court trial and approximately four and a half hours of deliberation, the jury finally rendered a verdict, finding SBF guilty on all seven charges of fraud and conspiracy. Inner City Press shared the situation at that time on social media.
It is reported that SBF looked dejected when the verdict was read. With the jury present, he lowered his head and trembled, listening to his lawyer speak to him. His parents stood a few feet behind him, watching. As SBF was escorted out of the courtroom, he turned to smile at his parents. His father, Joseph Bankman, put his arm around his mother, Barbara Fried’s shoulder. Barbara Fried was in tears as their son left the courtroom.
After the verdict was announced, U.S. Attorney Damian Williams, interviewed by reporters outside the courtroom, said, “Sam Bankman-Fried committed one of the largest financial frauds in U.S. history. This kind of fraud, this kind of corruption has long existed. We will not tolerate it.”
Meanwhile, SBF’s defense lawyer, Mark Cohen, stated, “We respect the jury’s decision, but are very disappointed with the outcome. Mr. Bankman-Fried maintains his innocence, and we will continue to vigorously defend him.”
Coincidentally, the day the jury rendered their verdict happened to be the one-year anniversary of CoinDesk’s exposure of the Alameda accounting issues (the beginning of FTX’s downfall). However, it is still unknown how long SBF will be imprisoned, as Judge Lewis Kaplan has scheduled SBF’s sentencing for March 28, 2024, when SBF will also face trial for a second set of charges including foreign bribery, conspiracy to commit bank fraud, and illegal political contributions.