Librarian and Retired Corrections Officer Included in Jury for Sam Bankman-Fried Case

FTX Sam Bankman-Fried
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Last updated:
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Author
Ruholamin Haqshanas
Author Categories
About Author

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more
Source; Getty Images

The jury selection process for the trial of Sam Bankman-Fried concluded on Wednesday morning, with a diverse group of individuals from various professional backgrounds chosen to serve. 

Among the selected jurors are a former prosecutor, several Metro North commuter rail line workers, a librarian, and a retired corrections officer.

Judge Lewis Kaplan, who presides over the case, hoped that the jury selection on the first day, but it became apparent by Tuesday afternoon that it would not be possible. 

During the hearing, Assistant U.S. Attorney Nick Roos confirmed that no plea deal had been offered to Bankman-Fried, which his legal team also acknowledged. 

Approximately 200 people were summoned for jury selection on Tuesday, and by Wednesday morning, around 50 individuals returned for further consideration.

At 11 a.m. ET, Judge Kaplan asked the jurors if there was anything about the nature of the case that would make it difficult for them to be impartial.

Several individuals raised their hands, leading to the dismissal of at least 10 people. 

While some U.S. states prohibit the naming of jurors, New York allows the press to do so. However, in sensitive cases where the jury members’ safety may be at risk, their identities can be withheld.

Jurors were excused for various reasons, including weddings, medical appointments, work-related travel, and one individual, who identified themselves as a commodities trader, expressed concern about the trial’s potential disruption to their job.

During the first day, juror number 29, Zal Dang, expressed doubts about his ability to remain unbiased in a case related to cryptocurrencies. 

He confessed to having negative sentiments towards the industry since learning about it, as reported by Inner City Press on Tuesday.

Judge Lewis Kaplan also inquired if any of the potential jurors were familiar with FTX or its affiliated hedge fund, Alameda Research, as the trial would involve discussions on “crypto” and “blockchain.” 

Two jurors admitted to having invested in the asset class but ended up losing money. 

Others revealed career connections to the broader financial industry, including positions at the Financial Industry Regulatory Authority (FINRA), Bank United, and Morgan Stanley, the latter of which had previously shown optimism towards the now-defunct crypto bank Silvergate, which had close ties to FTX.

Bankman-Fried’s Trial to Last Six Weeks

Sam Bankman-Fried, the former CEO and co-founder of the collapsed crypto giant FTX, faces seven criminal charges, including wire fraud, securities fraud, and money laundering. 

FTX and its related entities unexpectedly went bankrupt in November of the previous year, resulting in the loss of billions of dollars in customer funds. 

Bankman-Fried was subsequently arrested in the Bahamas in December and extradited to the United States. He pleaded not guilty to all charges on January 3.

The trial is expected to last approximately six weeks, during which the prosecution will present its case against Bankman-Fried. 

More Articles

Altcoin News
Kanye West Says He Rejected $2 Million Offer to Promote Alleged Crypto Scam
Ruholamin Haqshanas
Ruholamin Haqshanas
2025-02-08 09:46:28
Bitcoin News
Florida Senator Proposes State Investment in Bitcoin to Hedge Against Inflation
Ruholamin Haqshanas
Ruholamin Haqshanas
2025-02-08 09:43:01
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors