SBF Trial: Progressing with Selection of 12 Jurors and Seizure of Private Jets
The trial of FTX co-founder Sam Bankman-Fried (SBF) is currently ongoing in a multibillion-dollar fraud case. The court has approved a panel of 12 jurors, consisting of nine women and three men, from an initial pool of 45 candidates. The jury is diverse, with members from various professions and backgrounds. However, one juror was disqualified due to their connection to a company that had investments in both FTX and Alameda Research.
During the trial, several witnesses have testified, including Marc Julliard, who suffered financial losses in the FTX collapse, and SBF’s former associate Adam Yedidia. The proceedings were adjourned for the day after the witnesses testified.
In a separate Development, the Department of Justice (DoJ) has ordered the seizure of two private jets believed to be owned by Bankman-Fried. The jets in question are a Bombardier Global and an Embraer Legacy. These assets are at the center of an ownership dispute between the DoJ and FTX. Island Air Capital (IAC) acquired the jets for $12.5 million and $15.9 million, using financing provided by FTX. However, FTX claims that the loans used to acquire the aircraft were not adequately documented, and they assert their ownership claim.
The DoJ aims to use the proceeds from the seizure of these luxury assets to recover funds for the creditors of Bankman-Fried’s former company. The aircraft tracking data shows that both jets are listed as having “private” owners.
Bankman-Fried is currently facing a criminal trial in New York on seven fraud and conspiracy charges. He is accused of diverting billions from FTX customer accounts for speculative trades through the affiliated hedge fund, Alameda Research. It is alleged that he used these funds for lavish real estate acquisitions and political contributions. Bankman-Fried has denied all the charges and pleaded not guilty. The trial is expected to last six weeks.
SBF’s lawyer has disputed the government’s proposed jury questions, indicating a potential disagreement over the selection process.
Overall, the trial of Sam Bankman-Fried continues with the selection of a diverse jury and the Department of Justice’s order for the seizure of private jets believed to be owned by him. Bankman-Fried faces allegations of fraud and conspiracy, which he denies. The trial is expected to last six weeks..
#Selection #Jurors #Seizure #Private #Jets #SBF #Trial #Continues
The trial of FTX co-founder Sam Bankman-Fried (SBF) is currently ongoing in a multibillion-dollar fraud case. The court has approved a panel of 12 jurors, consisting of nine women and three men, from an initial pool of 45 candidates. The jury is diverse, with members from various professions and backgrounds. However, one juror was disqualified due to their connection to a company that had investments in both FTX and Alameda Research.
During the trial, several witnesses have testified, including Marc Julliard, who suffered financial losses in the FTX collapse, and SBF’s former associate Adam Yedidia. The proceedings were adjourned for the day after the witnesses testified.
In a separate Development, the Department of Justice (DoJ) has ordered the seizure of two private jets believed to be owned by Bankman-Fried. The jets in question are a Bombardier Global and an Embraer Legacy. These assets are at the center of an ownership dispute between the DoJ and FTX. Island Air Capital (IAC) acquired the jets for $12.5 million and $15.9 million, using financing provided by FTX. However, FTX claims that the loans used to acquire the aircraft were not adequately documented, and they assert their ownership claim.
The DoJ aims to use the proceeds from the seizure of these luxury assets to recover funds for the creditors of Bankman-Fried’s former company. The aircraft tracking data shows that both jets are listed as having “private” owners.
Bankman-Fried is currently facing a criminal trial in New York on seven fraud and conspiracy charges. He is accused of diverting billions from FTX customer accounts for speculative trades through the affiliated hedge fund, Alameda Research. It is alleged that he used these funds for lavish real estate acquisitions and political contributions. Bankman-Fried has denied all the charges and pleaded not guilty. The trial is expected to last six weeks.
SBF’s lawyer has disputed the government’s proposed jury questions, indicating a potential disagreement over the selection process.
Overall, the trial of Sam Bankman-Fried continues with the selection of a diverse jury and the Department of Justice’s order for the seizure of private jets believed to be owned by him. Bankman-Fried faces allegations of fraud and conspiracy, which he denies. The trial is expected to last six weeks..
#Selection #Jurors #Seizure #Private #Jets #SBF #Trial #Continues
