Former FTX CEO Sam Bankman-Fried will remain in jail throughout his trial utnil mid-November after the District Judge Lewis Kaplan denied his temporary release to prepare for the trial.
The trial, , comes after Judge Kaplan denied a motion for Bankman-Fried’s temporary release during a hearing on September 28th.
The former , but the judge expressed concerns that Bankman-Fried might be a flight risk if the trial didn’t go in his favor, citing his young age and the potential for a lengthy prison sentence if convicted.
While temporary release was denied, the judge did grant Bankman-Fried some concessions.
SBF Will Appear Wearing a Suit During Trial
One significant is that Bankman-Fried will be allowed to wear business attire throughout his trial.
The decision came after a request from his legal team, and the judge directed the United States Marshals Service and the Metropolitan Detention Center in Brooklyn to make necessary arrangements.
Bankman-Fried will have access to three full suits, four dress shirts, three ties, one belt, four pairs of socks, two pairs of shoes, and appropriate undergarments for the duration of the trial.
Upcoming Trial Details
Bankman-Fried’s trial, which begins with jury selection on October 3rd, will address seven fraud charges against him.
Among these charges, two are substantive, requiring the prosecution to convince a jury of his guilt.
The remaining five are conspiracy charges, where the prosecution must demonstrate that Bankman-Fried planned to commit the crimes.
With 15 full trial days in October and six in November, this legal battle promises to be a significant and protracted affair.
Bankman-Fried, who has pleaded not guilty to all counts, faces a potential maximum prison sentence of 110 years if convicted.