The former CEO of FTX, Sam Bankman-Fried, is scheduled to appear in court for a criminal trial lasting approximately 21 days. The trial is set to commence on October 4 and conclude on November 9, according to a recently released trial calendar. The calendar includes jury selection beginning on October 3, with the official trial starting on October 4. Bankman-Fried faces seven fraud charges, two of which require the prosecution to prove his guilt, while five are conspiracy charges focused on demonstrating his intent to commit the crimes.
The trial calendar outlines 15 full trial days in October and six more in November, with breaks from October 20 to October 25 and on weekends. It also accounts for public holidays on October 9 and November 10, with no trial scheduled for November 3.
Bankman-Fried has been in pre-trial detention at the Metropolitan Detention Center since August 11. Despite numerous motions for temporary release to prepare for his trial, his latest request, filed on September 28, was denied by U.S. District Judge Lewis Kaplan. Concerns about him being a flight risk and the possibility of a lengthy prison sentence if convicted were cited as reasons for the denial.
Former FTX CEO Sam Bankman-Fried’s 21-Day Criminal Trial Begins in October
However, Judge Kaplan expressed sympathy for the defense’s concerns and granted permission for Bankman-Fried to arrive at court at 7 am local time on most trial days to consult with his lawyers before the proceedings.
The Department of Justice estimates that the trial could last four to five weeks. Bankman-Fried has pleaded not guilty to seven counts of fraud and conspiracy related to the collapse of FTX, with a maximum statutory sentence of 110 years in prison looming over him.