Sam Bankman-Fried jury Archives

Sam Bankman-Fried, the co-founder of the FTX crypto exchange, who was recently found guilty of multiple counts of criminal fraud, reportedly faced a harrowing experience while incarcerated.

According to a former mobster turned federal informant, Gene Borrello, who shared a prison cell with Bankman-Fried, the disgraced crypto executive was placed on suicide watch and endured challenging conditions during his time at Brooklyn Metropolitan Detention Center (MDC) while awaiting sentencing next year.

FTX Co-Founder Subjected To Extortion

The details emerged during an interview with crypto blogger Tiffany Fong, where Borrello disclosed the troubling circumstances surrounding Bankman-Fried’s imprisonment.

The former detainee recounted how Bankman-Fried was subjected to suicide watch, extortion attempts, and even periods of self-neglect, including refusing to eat or shower for several days.

In an attempt to protect Bankman-Fried from potential harassment or extortion, authorities segregated him from gang members within the prison facility. However, despite these precautions, Borrello’s intervention reportedly foiled an extortion plot against the crypto mogul.

Borrello further revealed that he prevented the extortionists from coercing Bankman-Fried into sharing a bunk with them, placing the FTX co-founder in a solitary wing. Additionally, Bankman-Fried’s parents reportedly requested his transfer to the solitary unit to ensure his safety.

Drastic Change In Prison?

Describing the physical and emotional toll on Bankman-Fried, Borrello highlighted the crypto executive’s frail appearance, likening it to that of an elderly man. Borrello stated on the matter:

He has the body of an 80-year-old man. He has, like, no shape to him. When he talks to you, he puts his head down; he’s very timid, he talks very nervously.

Borrello also noted Bankman-Fried’s timid demeanor, with the co-founder displaying signs of nervousness during interactions.

In one conversation, Borrello confronted Bankman-Fried, stating that he had never been in a physical altercation before and questioned his association with gang members.

As reported by our sister site, Bitcoinist, Bankman-Fried received unique treatment in prison, where he allegedly received special privileges for sharing cryptocurrency-related information with prison guards and fellow inmates.

However, Borrello’s account offers a contrasting perspective, emphasizing the challenges and vulnerabilities the disgraced executive faced behind bars.

As Bankman-Fried’s sentencing approaches, his time in prison, including allegations of bullying and the ultimate impact on his legal proceedings, continues to draw attention.

The revelations from Borrello’s interview provide a rare glimpse into the world of the disgraced FTX co-founder, and it remains to be seen what other revelations may be made in prison for Bankman-Fried as his sentencing trial looms in 2024.

At present, the native token of FTX, FTT, is trading at $4.0997, indicating a decrease of 2.8% in the past 24 hours. However, it is noteworthy that the token has experienced a substantial surge of 216% year to date.

Featured image from Shutterstock, a chart from TradingView.com

FTX’s Sam Bankman-Fried Jury Selection Should Be Quick

Grewal noted that the voir dire proceedings have generally improved over time, as in the past, the process could drag on for days. As such, he expects Sam Bankman-Fried’s jury selection to “move quick” as the court while trying to ensure a fair trial, also ensures not to waste the time of prospective jurors.

The jury selection for SBF’s trial is expected to last just a day (October 3) as, according to the trial calendar, the trial is set to officially commence on October 4, with the prosecution set to open its case on that day.

As part of the voir dire proceedings, both parties will question the potential jurors to determine their competency and identify any bias that could influence their decision. However, Grewal doesn’t expect Judge Lewis Kaplan, the judge in charge of Sam Bankman-Fried’s case, to be a mere bystander as he noted that federal judges “exercise a much hand over questioning” than their state counterparts.

According to him, these judges don’t just “hand over” the process to the lawyers because they understand that both parties aren’t looking for a fair jury but one that can help them win.

It is worth mentioning that Grewal has judicial experience as he was once a US magistrate judge for the United States District Court for the Northern District of California. During his time as a judge, he picked 35 juries, although they were in civil matters, unlike this, which is a criminal one.

The Jury And Its Composition

Sam Bankman-Fried’s jury is expected to comprise 12 jurors from all walks of life. They will be required to give a verdict on each of the defendant’s charges (SBF is being charged with seven counts of fraud-related charges). This verdict will be unanimous, with all jurors participating in it.

As regards the jury composition, Grewal noted that it was “critical to a fair outcome.” However, he stated that prosecutors prefer their case to depend on “damning evidence” rather than the juror makeup. A plausible reason could be that certain biases could exist depending on who the jury consists of, unlike damning evidence that can hardly be refuted.

The legal expert seems to be one of those foreseeing a conviction, as he added that there was no shortage of “damning evidence in this case” as Sam Bankman-Fried faces a statutory maximum sentence of 110 years if found guilty of all charges.