Sam Bankman-Fried Highly Likely to Escape Conviction on Most Serious Charges, Former Banker Says
News Analysis
Disgraced FTX founder Sam Bankman-Fried, who recently pled not guilty to a slew of charges related to FTX’s implosion, is unlikely to be convicted of the most serious charges when the case goes to trial in October or to serve a lengthy prison term, a former investment banker has told The Epoch Times.
Despite having cost FTX customers an estimated $8 billion, which they are unlikely ever to get back, Bankman-Fried’s plea of not guilty on Jan. 3 is probably based on a realistic assessment of the current state of regulations regarding crypto exchanges and the difficulty of proving beyond a reasonable doubt that Bankman-Fried made illicit use of customer funds….