Disgraced FTX founder Sam Bankman-Fried trial to start Tuesday in NYC

If convicted of the criminal charges, the 31-year-old former CEO of crypto giant FTX could face years behind bars. The trial is scheduled to last for about six weeks, with jury selection beginning on Tuesday in U.S. District Court.The charges stem from the sudden and spectacular collapse of FTX last November. The implosion left customers unable to withdraw more than $8 billion in deposits as FTX quickly filed for bankruptcy.

John Berlau, a senior fellow and director of finance policy at the Competitive Enterprise Institute, said that the trial also raises the possibility that the public will find out a bit more about the scope of the influence that Bankman-Fried and FTX exerted in public policy. Bankman-Fried was arrested last year but was bailed out of prison on a $250 million bond. But the disgraced crypto mogul found himself back in lockup last month after his bond was revoked by Judge Lewis Kaplan of the District Court for the Southern District of New York.

“It will surely be painful for him to remain quiet if he believes or convinces himself that the government is mischaracterizing his transactions and his closest associates are making up stories about him,” Daniel Richman, a law professor at Columbia University and a former federal prosecutor, told the New York Times.

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