According to Cointelegraph, the criminal trial of Sam “SBF” Bankman-Fried, the disgraced founder of crypto exchange FTX, has officially concluded. It is expected that the trial was moved by Judge Lewis Kaplan, US Southern District of New York, to jury instructions.
Sources revealed that Bankman-Fried faces seven charges, including two counts of wire fraud conspiracy, two counts of wire fraud, one count of conspiracy to commit commodities fraud and one count of conspiracy to commit securities fraud.
“The government need not prove that the victim was harmed, only that the defendant [Sam Bankman-Fried] contemplated some harm. The defendant need not have participated in the scheme from the beginning,” Judge Kaplan explained.
Furthermore, Judge Kaplan mentioned that for conspiracy charges “it is sufficient if two or more people came to a common understanding to violate the law.” However, he warned that “mere presence at the scene of a crime, or being friendly with a criminal, is not a crime,” Cointelegraph concluded.
(With insights from Cointelegraph)
