Sam Bankman-Fried (Probably) Won’t Get a 115-Year Prison Sentence

committing wire fraud on Alameda Research lendersconspiring to commit securities fraud against FTX investorsconspiring to commit money laundering to hide the proceeds of wire fraud on FTX customersOf these, only charges one and three – wire fraud on FTX customers and Alameda Research lenders – are “substantive” charges, meaning the Department of Justice is alleging that Bankman-Fried himself actively committed the crimes.

Sending out emails or otherwise trying to defraud people through some online tool meets the interstate requirement for the wire fraud charge, he said. The defense’s job is to argue that the DOJ did not make its case. With an advice-of-counsel defense, which Bankman-Fried’s attorneys have said they'll make, the argument may be that the FTX founder ran his actions by his lawyers while at the exchange, and they okayed them.

Prosecutors may also have to show that Bankman-Fried either didn’t provide his lawyers with all of the material information they needed to advise him properly to push back against the advice-of-counsel defense.judge rejected all of the proposed defense witnesses The DOJ could retry Bankman-Fried on any hung charges, Estes said. Prosecutors can’t bring back any charges that he is acquitted of, however, though the defense can appeal any guilty verdicts.

Before the judge gets to sentencing, the U.S. Probation and Pretrial Services System will create a recommendation. They may look at the trial transcript and Bankman-Fried’s background, and may potentially interview Bankman-Fried himself.

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