Rumours about Sam Bankman-Fried (SBF) pleading guilty circulated before the news was confirmed.
“SBF Is Toast”: Deaton
During a FOX Business interview on January 3, Crypto Attorney John E. Deaton stated that SBF is “toast,” implying that he will face severe consequences for his alleged wrongdoing, which SBF has denied.
Deaton pointed out that SBF has lived extravagantly since his extradition from the Bahamas, adding that pleading not guilty has made matters worse for him.
Deaton trusts that the judicial system will continue to investigate and hold SBF accountable for his crimes, as his allies Caroline Ellison and Gary Wang have already testified to the claims against them and there is evidence to support them.
SBF’s Trial Date
The disgraced public figure is being charged with conspiracy to conduct wire fraud, conspiracy to commit money laundering, and conspiracy to abuse consumer cash.
The SEC and the CFTC are also suing him on identical grounds. If found guilty of all accusations, SBF could spend up to 115 years in prison. His trial has been scheduled for October 2nd, 2023.
At a hearing on January 4, the court granted the requests of SBF’s counsel to maintain the confidentiality of the names and addresses of the two unknown signees to SBF’s record $250 million bail bond.
It is important to note that SBF was allowed to go free on his own recognizance after posting a contentious $250 million bail bond that was guaranteed by the California mansion owned by his parents and assets from two unknown signers.