Former SEC attorney John Reed Stark took to social media on Monday with an in-depth forecast of how Sam Bankman-Fried’s criminal trial is likely to play out.

The disgraced ex-boss of defunct crypto exchange FTX faces sweeping fraud charges that may collectively earn him a lifetime in prison. Though he will soon have his day in court, Stark says the founder’s chances of acquittal are low. 

“Rarely in the history of financial fraud prosecutions has a DOJ team possessed this level of unconstrained access to such an extraordinary treasure trove of witnesses and evidence,” wrote the ex-lawyer on Twitter on Monday. 

Stark noted the many high-profile executives close to Bankman-Fried who have already pled guilty to reduce their criminal sentences. They include FTX co-founder Gary Wang, engineering director Nisha Singh, FTX Digital Markets CEO Ryan Salame, and Alameda Research CEO Caroline Ellison. 

Ellison—who was also SBF’s on-again, off-again girlfriend—admitted in her publicly leaked diary that she felt unequipped to run Alameda, the SBF-owned crypto trading desk deeply tied to the fraud. After leaking her diary to the media, SBF saw his bail revoked for witness tampering. 

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Author: Andrew Throuvalas

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