Sam Bankman-Fried's Defense Finds Fraud Trial Unwinnable

By: Eliza Bennet

Sam Bankman-Fried's defense led by Professor David Mills of Stanford University Law School reveals that the recently concluded fraud trial was nearly an 'impossible win'. This admission came in the light of a robust lineup of prosecution witnesses comprising key insiders from Bankman-Fried's cryptocurrency exchange, FTX. Testimonies from Caroline Ellison, Gary Wang, and Nishad Singh, significantly weighed the case against Bankman-Fried.

A major challenge that emerged during the trial was Bankman-Fried's inability to stick to the prearranged defense strategy. Mills had proposed that Sam acknowledges the allegations against him, considering it could spin a compelling narrative. However, this proposal was met with resistance from Bankman-Fried. Following his conviction, Bankman-Fried has been found guilty on seven counts and faces over 100 years in prison for the collapse of his cryptocurrency empire.

There have been speculations about an appeal, but Bankman-Fried's lead counsel, Mark Cohen, has confirmed that they will not file post-trial motions. Bankman-Fried still awaits a second trial scheduled for March next year, with charges involving five counts of bank fraud and bribery. His sentencing for the first trial is set for March 28.