WEBVTT - BREAKING NEWS: Sam Bankman-Fried Found Guilty

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<v Speaker 1>This is breaking the loose from Bloomberg. A jury here

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<v Speaker 1>in New York has reached a verdict in the Sam

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<v Speaker 1>Bankman freed fraud trial. He has been found guilty on

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<v Speaker 1>all seven counts that include fraud and conspiracy. Let's bring

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<v Speaker 1>in Bloomberg Radio legal analyst June Grosso, also host of

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<v Speaker 1>Bloomberg Law. June, is this a surprise to you?

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<v Speaker 2>It's not a surprise because the evidence against him was overwhelming,

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<v Speaker 2>and in the closing arguments, the prosecutor kept mentioning, if

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<v Speaker 2>you believe Caroline Allison, if you believe Gary Wong, if

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<v Speaker 2>you believe this one, then he's guilty. And it was

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<v Speaker 2>really a masterful close. But I think, what did it is?

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<v Speaker 2>Sam Bankminfried took stand in his own defense, And when

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<v Speaker 2>a defendant takes the stand that way, the whole thing

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<v Speaker 2>in the jury's mind becomes a credibility game. How credible

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<v Speaker 2>do they find him? And though he was good on

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<v Speaker 2>direct during cross he was caught up a lot by

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<v Speaker 2>the prosecution. He said I don't know, I don't know,

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<v Speaker 2>over and over again, and he had a problem with

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<v Speaker 2>all the statements he's made. He made in between the

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<v Speaker 2>time that STX went bankrupt and the time when he

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<v Speaker 2>was arrested, So he talked to so many people, reporters

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<v Speaker 2>and all, and did interviews after interviews, and he was

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<v Speaker 2>confronted with some of the statements he said there. So

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<v Speaker 2>it was a really difficult, uphill battle and the only

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<v Speaker 2>thing that would have saved him is if he convinced

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<v Speaker 2>one jur or two jurors you know he was, were

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<v Speaker 2>sympathetic to him, and he convinced them that he didn't

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<v Speaker 2>have fraudulent intent as if it didn't happen.

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<v Speaker 1>You and I were talking earlier today and I asked

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<v Speaker 1>you whether there was the basis for a successful appeal here?

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<v Speaker 1>Is there one?

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<v Speaker 2>Well, I don't know about successful because appeals of criminal

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<v Speaker 2>convictions are so difficult. It's so difficult to get a

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<v Speaker 2>criminal conviction overturned. But the defense certainly has a lot

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<v Speaker 2>of grounds to work with. I mean, the judge made

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<v Speaker 2>so many rulings that were against the defense here, and

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<v Speaker 2>one of the ones that comes to my mind, actually

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<v Speaker 2>couple come to mind, but one is that the judge

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<v Speaker 2>decided not to allow him pursue and advice an advice

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<v Speaker 2>of council defense, which is a defense that my lawyers

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<v Speaker 2>you know, I relied on my lawyers in this case

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<v Speaker 2>and that's why I did what I did. So that

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<v Speaker 2>was a big thing. And the judge also didn't allow

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<v Speaker 2>some of the expert witnesses you wanted to call, so

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<v Speaker 2>in the end, it basically was Sam Bankman breed testifying

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<v Speaker 2>in his own defense. So those are grounds were appealed, certainly.

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<v Speaker 2>I also want to say, Doug that keeping the jury,

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<v Speaker 2>but telling the jury that you're going to stay here

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<v Speaker 2>till eight fifteen and then they come in at you know,

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<v Speaker 2>close to eight o'clock. This is like a typical Friday

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<v Speaker 2>verdict where the jurors feel pressured to come in with

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<v Speaker 2>a vertic and I think, you know, the judge keeping

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<v Speaker 2>them over time didn't help them. Bankment freed despite the

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<v Speaker 2>pizzas that he got in the Ubers.

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<v Speaker 1>When it comes to sentencing, what we are learning now

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<v Speaker 1>is that he's been found guilty of all seven charges

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<v Speaker 1>that include fraud and conspiracy. In terms of what he

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<v Speaker 1>could be facing, is it not decades in prison?

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<v Speaker 2>It is decades in prison. But you know, the judge

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<v Speaker 2>doesn't have to sentence him to decades in prison. I mean,

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<v Speaker 2>look at what happened in San Francisco with I can't

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<v Speaker 2>think of her name right now. You know the the

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<v Speaker 2>blood chesting machines, Yes, yes, yes, so Elizabeth Holmes. So

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<v Speaker 2>you know she got under twenty years at fourteen. I

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<v Speaker 2>think it was so, I mean, he doesn't have to

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<v Speaker 2>sentence him to that much. But a lot of money

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<v Speaker 2>was lost here and that's in the calculation, and you know,

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<v Speaker 2>we'll see what the probation office is. We'll see what

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<v Speaker 2>the prosecutors ask for. I mean, the prosecutors are probably

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<v Speaker 2>gonna try to max out a lot of this because

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<v Speaker 2>they never offered him a deal. From what I understand

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<v Speaker 2>and from what was sit in court, they offered deals

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<v Speaker 2>to Caroline Ellison, Gary Wong and the third person who

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<v Speaker 2>was the engineer, but they didn't offer him a deal.

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<v Speaker 2>So I think they're trying to send a message to

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<v Speaker 2>cryptocurrency and everyone else that they're going to be tough

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<v Speaker 2>on this. So I think they're probably going to ask

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<v Speaker 2>for a long sentenceier.

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<v Speaker 1>So now you mentioned the three witnesses former colleagues of

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<v Speaker 1>bankman Freed. Now that the case against bankman Freed is

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<v Speaker 1>essentially over, the jury has found him guilty on these

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<v Speaker 1>seven counts, will we get kind of sentencing or punishment

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<v Speaker 1>for those who kind of dealt with the government in cooperating,

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<v Speaker 1>but they themselves face you know, some type of punishment,

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<v Speaker 1>do they not, Well, yes they do.

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<v Speaker 2>And you know, I have talked to different people have

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<v Speaker 2>different feelings about whether they're going to get jail time

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<v Speaker 2>or not. Some of the people I talked to said

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<v Speaker 2>they're definitely going to get at jail time because you know,

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<v Speaker 2>there are substantial crimes that they pleaded to and people

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<v Speaker 2>were hurt in these cases. So that's the feeling that

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<v Speaker 2>they'll get substantial But some people say, you know, maybe

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<v Speaker 2>they'll get time served. So it's up to the judge

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<v Speaker 2>and it's up to the prosecution. They apparently cooperated very well.

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<v Speaker 2>Sam mcminfree was convicted, so they seem to have fulfilled

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<v Speaker 2>their part of the bargain with the prosecution. And now

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<v Speaker 2>the question is, and it's probably going to be this,

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<v Speaker 2>It's going to be this judge who sentences them, So

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<v Speaker 2>he'll have to determine, you know, what he thinks is

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<v Speaker 2>sufficient to send a message that you know, you it's

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<v Speaker 2>good to cooperate. If you cooperate before trial, you can

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<v Speaker 2>get a deal. But at the same time, send a

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<v Speaker 2>message that you don't get off scott free when you cooperate.

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<v Speaker 2>There is you know, there is some there is a

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<v Speaker 2>consequence to doing what you did. And let's say that

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<v Speaker 2>they pleaded to some very serious crimes. They were involved

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<v Speaker 2>in this in many ways, and they were you know,

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<v Speaker 2>changing code, they were changing the balance sheets. I mean,

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<v Speaker 2>there was a lot that they were doing in this case.

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<v Speaker 2>So I think that they'll get some serious jail time,

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<v Speaker 2>but definitely not as much as Bangmin Freed's going to get.

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<v Speaker 1>Well, you mentioned the judge Lewis Kaplan, the US district

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<v Speaker 1>judge here in New York. How do you think he

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<v Speaker 1>did in running this proceeding?

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<v Speaker 2>Oh, don't ask me that question, Donnie. I mean, I

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<v Speaker 2>just I just saw that. To me, it seemed like

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<v Speaker 2>a lot of his a lot of his decisions were

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<v Speaker 2>pro prosecution.

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<v Speaker 1>Okay, Well, let me ask it in another way. What

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<v Speaker 1>is he known for based on trials in the past

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<v Speaker 1>of this is you know, similar nature.

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<v Speaker 2>He's known for being a very good judge and running

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<v Speaker 2>a very tight courtroom. When you're a reporter, you go

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<v Speaker 2>in that courtroom, you don't want your phone to go off, Doug,

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<v Speaker 2>because if it does, you could end up in jail. So,

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<v Speaker 2>I mean he runs a very tight courtroom. During the

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<v Speaker 2>cross examination of Carol and Ellison, there were so many

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<v Speaker 2>objections and he sustained so many objections that the defense

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<v Speaker 2>couldn't even get their rhythm in cross examination. You know,

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<v Speaker 2>when you're cross examining, you know, and even direct rhythm

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<v Speaker 2>is is a lot about what it's about, you know,

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<v Speaker 2>how you how you manage the cross examination. If you

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<v Speaker 2>keep getting interrupted and you and you can't ask the questions,

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<v Speaker 2>you know, it can room that. So now and apparently

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<v Speaker 2>the cross is they made very little headway on the

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<v Speaker 2>cross examinations of the three major witnesses, the three witnesses

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<v Speaker 2>who flipped. So he runs a very tight courtroom, is

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<v Speaker 2>what I'll say. And remember he's also the one that

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<v Speaker 2>threw Sankmin Freed into jail before the trial, despite the

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<v Speaker 2>fact that he had this huge ail package and the

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<v Speaker 2>fact that the defense came to the steering expecting to

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<v Speaker 2>agree to a gag order and instead of the gag order,

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<v Speaker 2>the judge said, no, you're going to jail. So and

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<v Speaker 2>that's you know, that makes it much more difficult for

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<v Speaker 2>a defendant to prepare for trial and for you know,

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<v Speaker 2>for his attorneys to prepare for trial, So so you

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<v Speaker 2>know this judge is not fooling around.

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<v Speaker 1>And if you're just joining us, we're talking about the

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<v Speaker 1>trial of Sam Bankman freed. The jury tonight in New

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<v Speaker 1>York has found him guilty on seven counts, including fraud

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<v Speaker 1>and conspiracy. And I'm speaking with June Grosso, our in

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<v Speaker 1>house legal analyst, and we were talking about Judge Lewis Kaplan.

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<v Speaker 1>What he is known for, so is will the judge

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<v Speaker 1>allow a period here now for defense to file and

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<v Speaker 1>appeal if they so choose, before he then moves to

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<v Speaker 1>the sentencing phase.

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<v Speaker 2>I think the sentencing will happen first the defense has

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<v Speaker 2>The defense is definitely going to appeal, and they have

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<v Speaker 2>a certain amount of time to appeal. That's going to happen.

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<v Speaker 2>They're going to file their notice of appeal, They're probably

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<v Speaker 2>going to file for emotion notwithstanding the verdict. I mean,

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<v Speaker 2>all that stuff will happen, but I think even he'll

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<v Speaker 2>be sentenced before the appeal goes through, and the appeals

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<v Speaker 2>can take so long. They'll file for a notice. They

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<v Speaker 2>have to get back all the transcripts of what happened

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<v Speaker 2>at trial. They have to prepare and to and they've

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<v Speaker 2>brief and stuff. So it's going to take a long time.

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<v Speaker 2>And you know he's going to be sent.

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<v Speaker 1>To prison, so in the interim he'll be confined, I

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<v Speaker 1>would imagine, to some type of jail situation right awaiting sentencing.

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<v Speaker 2>I think he'll probably stay. He's at the Brooklyn Detention Center,

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<v Speaker 2>I think so. I think he'll probably stay there pending

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<v Speaker 2>the the So what happens now is not only do

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<v Speaker 2>does the prosecution of the defense, you know, prepare their

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<v Speaker 2>sentencing requests and recommendations, and I'm sure some people will

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<v Speaker 2>write in, you have letters written in, and also the

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<v Speaker 2>probation department will do a report on him and you

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<v Speaker 2>know where where they think he should be sent and

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<v Speaker 2>where and how much time they think he should get.

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<v Speaker 2>So that all takes a while. But I think I

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<v Speaker 2>don't know if the judge has sent a sentencing.

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<v Speaker 1>We just got it now, just the moment that you

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<v Speaker 1>uttered those remarks June March twenty eighth, that can't be,

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<v Speaker 1>it said, I'm looking at March twenty eighth. That's got

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<v Speaker 1>to be you know, three months from now.

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<v Speaker 2>Yeah, yeah, So you know that's giving them plenty of

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<v Speaker 2>time to make their arguments. But I think you know

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<v Speaker 2>it takes like this. The judge has stat through the

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<v Speaker 2>entire trial, the free trial motions and all that, so

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<v Speaker 2>you know, they can submit their requests and the prosecution

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<v Speaker 2>can ask for Max and they could submit their arguments.

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<v Speaker 2>But he already knows what happened in this trial and

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<v Speaker 2>he has his own opinion of fam Maak been freed

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<v Speaker 2>at this point, So he'll read those and I'm sure

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<v Speaker 2>take them, you know, into account. He knows it all

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<v Speaker 2>by this point, right. He knows what was allowed in,

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<v Speaker 2>he knows what was not allowed in. He knows how

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<v Speaker 2>Sam Beankman freed was on the stand. So you know,

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<v Speaker 2>Judge Kaplan has done this many many times, and I'm

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<v Speaker 2>sure he'll he'll look at it all and then make

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<v Speaker 2>his own mind up.

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<v Speaker 1>Talking to Junie Grosso, in house legal analyst for Bloomberg

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<v Speaker 1>Radio about the trial of Sam Bankman free tonight. A

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<v Speaker 1>jury here in New York has found him guilty on

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<v Speaker 1>seven counts. The counts include fraud and conspiracy. This is

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<v Speaker 1>after a month long trial where he, as June noted

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<v Speaker 1>a moment ago, took the stand in his own defense.

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<v Speaker 1>Are there sentencing guidelines.

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<v Speaker 2>Now, yes, there are sentencing guidelines, but I'll tell you

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<v Speaker 2>I don't know what they are in this case, and

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<v Speaker 2>they also can be very complicated to figure out. So

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<v Speaker 2>I'm not even going to go get But I mean,

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<v Speaker 2>technically everyone would think you could get one hundred years,

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<v Speaker 2>but that's not going to happen. But that just shows

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<v Speaker 2>you that it will be substantial.

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<v Speaker 1>June hold on, I want to bring in our own

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<v Speaker 1>Angelo Moon, a Bloomberg legal reporter who joins us on

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<v Speaker 1>the line from here in New York. This deliberation really

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<v Speaker 1>didn't take that long, did.

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<v Speaker 3>It, right? It took about five hours, which is really

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<v Speaker 3>unheard of. This is very very especially for a very

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<v Speaker 3>high profile criminal cases. And you know, we knew that

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<v Speaker 3>the judge was asking the jurors to stay really late

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<v Speaker 3>into the evening, but you know, there was really less

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<v Speaker 3>than ten percent chance really that we thought the verdict

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<v Speaker 3>was going to be delivered. But we have that now,

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<v Speaker 3>which means that the jurors were pretty convinced from very

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<v Speaker 3>earlier on that this was a fraud chase and the

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<v Speaker 3>same and that Sam Brik mcfred was really the one

0:12:49.520 --> 0:12:53.280
<v Speaker 3>who was orchestrating the fall of the FTX from very

0:12:53.559 --> 0:12:55.920
<v Speaker 3>from very earlier on in this child.

0:12:55.840 --> 0:12:57.400
<v Speaker 1>I just want to be clear that this was a

0:12:57.559 --> 0:13:00.760
<v Speaker 1>unanimous decision on the part of the jury, right, a

0:13:00.880 --> 0:13:03.959
<v Speaker 1>unanimous guilty decision, right, correct.

0:13:04.080 --> 0:13:07.120
<v Speaker 3>And not only that they found him guilty of seven

0:13:07.160 --> 0:13:10.640
<v Speaker 3>counts of fraud and conspiracy. You know, we were expecting

0:13:10.720 --> 0:13:13.200
<v Speaker 3>initially that there will be you know, he would be

0:13:13.920 --> 0:13:17.080
<v Speaker 3>you know, found guilty of some accounts. But this is

0:13:17.080 --> 0:13:19.320
<v Speaker 3>really an unanimous decision and there was. It means that

0:13:19.320 --> 0:13:22.920
<v Speaker 3>there was really no question about the kind of fraud,

0:13:23.000 --> 0:13:24.400
<v Speaker 3>the kind of crimes that he committed.

0:13:25.200 --> 0:13:26.840
<v Speaker 1>One of the things that I'm trying to nail down.

0:13:26.880 --> 0:13:29.320
<v Speaker 1>Maybe you can help me, and it fits ambiguous at

0:13:29.360 --> 0:13:32.760
<v Speaker 1>this point, Angela, please, you know, uh, don't be led

0:13:32.800 --> 0:13:37.200
<v Speaker 1>into this territory. But has the judge offered a sentencing date.

0:13:38.320 --> 0:13:41.240
<v Speaker 3>He has, so it's going to be March next year.

0:13:42.000 --> 0:13:45.240
<v Speaker 3>So we were expecting the sentencing to be coming earlier

0:13:45.360 --> 0:13:48.559
<v Speaker 3>next year, so there's really no surprise there. But that

0:13:48.600 --> 0:13:51.040
<v Speaker 3>also means that we will see, you know what what

0:13:51.120 --> 0:13:54.120
<v Speaker 3>it means for the collaborators that he's inner circle who

0:13:54.120 --> 0:13:58.280
<v Speaker 3>already pled it, fled guilty, and was cooperating with the prosecutors.

0:13:58.320 --> 0:14:00.960
<v Speaker 3>We'll see what kind of sent thing or what kind

0:14:01.000 --> 0:14:04.160
<v Speaker 3>of you know, outcome it is for them as well.

0:14:04.520 --> 0:14:08.520
<v Speaker 1>Early next year, let's bring June Grosso back into the conversation.

0:14:08.559 --> 0:14:13.160
<v Speaker 1>Bloomberg in house legal analyst, June this March twenty eighth

0:14:13.160 --> 0:14:15.560
<v Speaker 1>of next year. That seems like a long period of time,

0:14:15.600 --> 0:14:16.000
<v Speaker 1>does it not?

0:14:17.360 --> 0:14:19.760
<v Speaker 2>It does, But as I said, a lot has to

0:14:19.840 --> 0:14:22.360
<v Speaker 2>happen in between now and then, and the judge is

0:14:22.360 --> 0:14:27.880
<v Speaker 2>giving them time to you know, prepare their motions and

0:14:28.000 --> 0:14:30.840
<v Speaker 2>for the probation department to make its report, and for

0:14:30.920 --> 0:14:34.800
<v Speaker 2>the prosecution to prepare its recommendation. So, you know, better

0:14:34.800 --> 0:14:36.760
<v Speaker 2>to have more time than less time. I don't think

0:14:36.800 --> 0:14:39.160
<v Speaker 2>it matters much for Sam meg and Freed at this point.

0:14:39.280 --> 0:14:42.400
<v Speaker 2>He's going to be in one prison or another.

0:14:42.840 --> 0:14:45.880
<v Speaker 1>When the judge it arrives at the sentencing. We were

0:14:45.920 --> 0:14:51.760
<v Speaker 1>talking about sentencing guidelines earlier. Is anyone allowed to kind

0:14:51.760 --> 0:14:55.200
<v Speaker 1>of enter into a conversation with a judge to influence

0:14:55.480 --> 0:14:56.760
<v Speaker 1>his or her decision making?

0:14:57.800 --> 0:15:01.680
<v Speaker 2>Well, I mean you can send I mean I assume

0:15:01.720 --> 0:15:04.400
<v Speaker 2>you mean like relatives that's like his mom, his dad,

0:15:04.560 --> 0:15:07.640
<v Speaker 2>his friends. They can send letters to the judge and

0:15:07.680 --> 0:15:10.920
<v Speaker 2>in some cases I mean, there have been cases where

0:15:11.880 --> 0:15:15.080
<v Speaker 2>hundreds of letters were sent to judges and the judges

0:15:15.600 --> 0:15:18.800
<v Speaker 2>do go over those letters, and sometimes they'll even refer

0:15:18.920 --> 0:15:22.240
<v Speaker 2>to them in the sentencing. They'll say, you know, you

0:15:22.400 --> 0:15:26.640
<v Speaker 2>had I read this about you and that, and then

0:15:26.680 --> 0:15:29.680
<v Speaker 2>they'll but I think, you know, despite all that, as

0:15:29.680 --> 0:15:33.480
<v Speaker 2>I've said before, this judge knows all the evidence in

0:15:33.560 --> 0:15:35.960
<v Speaker 2>this case, and he's seen it all, and he knows

0:15:36.000 --> 0:15:39.160
<v Speaker 2>what was what was admitted into evidence and what was

0:15:39.200 --> 0:15:41.160
<v Speaker 2>not admitted to evidence because he was the one who

0:15:41.160 --> 0:15:46.160
<v Speaker 2>made those decisions. So he knows what happened. And you know,

0:15:46.240 --> 0:15:48.640
<v Speaker 2>I think that he will have an idea himself of

0:15:48.760 --> 0:15:51.560
<v Speaker 2>where he wants to go here, and but he'll read

0:15:51.560 --> 0:15:55.680
<v Speaker 2>the recommendations. He'll perhaps be persuaded by some but you know,

0:15:55.800 --> 0:15:59.800
<v Speaker 2>usually the judges, the trial judges know.

0:16:00.840 --> 0:16:03.320
<v Speaker 1>Yeah, for a man as young as bankman Freed, I

0:16:03.360 --> 0:16:05.720
<v Speaker 1>mean to be dealing with and you I think you

0:16:05.840 --> 0:16:09.040
<v Speaker 1>put a figure of what one hundred years potentially worst

0:16:09.040 --> 0:16:12.320
<v Speaker 1>case scenario after you've been convicted for these crimes.

0:16:12.560 --> 0:16:15.800
<v Speaker 2>That's just that's just ridiculous. I said it because that's

0:16:15.800 --> 0:16:17.920
<v Speaker 2>like the outer limit of what people have been saying.

0:16:17.920 --> 0:16:22.240
<v Speaker 2>He's facing one hundred years. That will never happen, never, never, never.

0:16:22.760 --> 0:16:25.120
<v Speaker 2>But I mean that's just the outer limit if you

0:16:25.400 --> 0:16:29.280
<v Speaker 2>are convicted of these seven you know, selonies. So it

0:16:29.320 --> 0:16:32.040
<v Speaker 2>won't be it won't be that. I mean, I don't

0:16:32.040 --> 0:16:35.680
<v Speaker 2>want to take a guess because I don't want to

0:16:35.680 --> 0:16:38.320
<v Speaker 2>do that. But you know, yes, probably between ten and

0:16:38.400 --> 0:16:41.440
<v Speaker 2>twenty and eighty. I don't know, Okay, it's hard to say.

0:16:41.600 --> 0:16:45.320
<v Speaker 1>June Grasso there Bloomberg in house legal analyst for Bloomberg Radio,

0:16:45.320 --> 0:16:48.880
<v Speaker 1>and we're talking about the conviction of Sam Bankman free

0:16:48.920 --> 0:16:51.120
<v Speaker 1>to jury here in New York, finding him guilty on

0:16:51.200 --> 0:16:53.640
<v Speaker 1>seven counts of fraud and conspiracy.

0:16:54.360 --> 0:16:54.480
<v Speaker 3>Uh.

0:16:55.360 --> 0:17:00.000
<v Speaker 1>Jury here in Manhattan, deliberated for less than five hours,

0:17:00.520 --> 0:17:03.480
<v Speaker 1>and the judge in this case, Lewis Kaplan, has now

0:17:03.560 --> 0:17:08.160
<v Speaker 1>set a sentencing date of March twenty eighth of next year.

0:17:08.480 --> 0:17:10.960
<v Speaker 1>What should we be looking for next? I mean, if

0:17:10.960 --> 0:17:13.800
<v Speaker 1>we're trying to read the tea leaves here, June, is

0:17:13.800 --> 0:17:17.879
<v Speaker 1>there anything to give us guidance on the severity of punishment?

0:17:20.119 --> 0:17:24.160
<v Speaker 2>Well, you know, we'd have to have someone who who

0:17:25.000 --> 0:17:28.679
<v Speaker 2>studies the sentencing guidelines take a look at it. But

0:17:29.280 --> 0:17:32.880
<v Speaker 2>you know, as I said, you look at Elizabeth Holmes.

0:17:32.920 --> 0:17:36.240
<v Speaker 2>I mean, she was facing far more time when you

0:17:36.359 --> 0:17:39.560
<v Speaker 2>added it all up than what she got. So, you know,

0:17:39.600 --> 0:17:44.160
<v Speaker 2>I really don't know how to go about speculated sort

0:17:44.160 --> 0:17:47.520
<v Speaker 2>of figuring out. I don't. I already speculated. Don't get

0:17:47.560 --> 0:17:47.840
<v Speaker 2>it all.

0:17:47.840 --> 0:17:49.479
<v Speaker 1>Right, No more speculating, June.

0:17:49.560 --> 0:17:52.639
<v Speaker 2>You pushed me, and I speculated. I regretted already. But

0:17:53.760 --> 0:17:56.320
<v Speaker 2>because you know, I just don't know how the judge

0:17:56.359 --> 0:17:58.000
<v Speaker 2>is going to go here. But I just think it's

0:17:58.080 --> 0:18:00.879
<v Speaker 2>going to be substantial. I don't thinks he's going to,

0:18:00.960 --> 0:18:04.320
<v Speaker 2>you know, get out, get out very quickly.

0:18:04.600 --> 0:18:06.919
<v Speaker 1>I'm going to throw you another curveball because you're so

0:18:07.000 --> 0:18:12.000
<v Speaker 1>good at fielding curveballs. In terms of being eligible for

0:18:12.560 --> 0:18:16.320
<v Speaker 1>parole in a case like this, can the judge going

0:18:16.359 --> 0:18:20.119
<v Speaker 1>into sentencing set limitations on that or is that entirely

0:18:20.200 --> 0:18:21.200
<v Speaker 1>up to the parole board.

0:18:22.119 --> 0:18:25.240
<v Speaker 2>It's that's usually up to the parole board. So the

0:18:25.359 --> 0:18:28.800
<v Speaker 2>judge will set a sentence, and I mean there might

0:18:28.800 --> 0:18:30.680
<v Speaker 2>be a minimum and a maximum, but I think he'll

0:18:30.680 --> 0:18:33.560
<v Speaker 2>just set a sentence. And I'm not as familiar with

0:18:33.640 --> 0:18:37.760
<v Speaker 2>federal with federal prison Thomas, I am with state. So

0:18:38.160 --> 0:18:41.320
<v Speaker 2>he'll set a sentence, and then the parole board, and

0:18:41.359 --> 0:18:43.320
<v Speaker 2>I think in federal you know, I think we're gonna

0:18:43.320 --> 0:18:44.760
<v Speaker 2>have to get an expert on this, because I am

0:18:44.760 --> 0:18:47.000
<v Speaker 2>not an expert in federal, but I know the judge

0:18:47.040 --> 0:18:51.240
<v Speaker 2>just set a sentence and then it'll be up. Parole

0:18:51.320 --> 0:18:52.600
<v Speaker 2>is a different thing. I don't know if you're thinking

0:18:52.600 --> 0:18:54.000
<v Speaker 2>about parole or probation.

0:18:54.920 --> 0:18:57.040
<v Speaker 1>Okay, Jim will leave it there, Thank you so much.

0:18:57.080 --> 0:19:00.800
<v Speaker 1>Sam Bankman Freed is what we've been talking about. His

0:19:00.920 --> 0:19:04.800
<v Speaker 1>conviction today massive fraud that obviously led to the collapse

0:19:04.800 --> 0:19:09.760
<v Speaker 1>of his cryptocurrency exchange FTX. Mister bankmin Freed found guilty

0:19:09.800 --> 0:19:13.159
<v Speaker 1>tonight by a jury in Manhattan on all seven counts

0:19:13.200 --> 0:19:17.200
<v Speaker 1>of fraud and conspiracy. June Grasso has been in conversation

0:19:17.320 --> 0:19:21.240
<v Speaker 1>with US June, of course, Bloomberg Radio in house legal

0:19:21.280 --> 0:19:21.720
<v Speaker 1>analyst