Crypto Lawyer: SBF Could Land 40+ Years in Prison After Testimony

The boss of defunct FTX, Sam Bankman-Fried, could already land at least 40 years in prison after giving his account on the exchange’s demise on Friday. According to lawyer John E. Deaton, SBF’s denial of not defrauding FTX users could be enough evidence to indict him.

“If laser focused, she will guarantee he does 40 plus years because the judge will take his lying on the stand into consideration for an appropriate sentence. Remember, a judge or jury can’t hold it against the accused for not testifying, but if he chooses to testify and lies through his teeth, it will be held against him,” Deaton tweeted.

SBF Lied?

In a cross-examination between defendant Mark Cohen and Bankman-Fried on Friday, the lawyer asked the disgraced FTX co-founder if he defrauded anyone, to which he stated that he didn’t. Prosecutors sued SBF earlier, accusing him of fraud against customers.

Mr. Bankman-Fried also denied knowing about a backdoor that allowed Alameda to access FTX users’ funds. He stated that he didn’t entirely understand what was happening in FTX.

“Ultimately, I had authority. On the other hand, I wasn’t much of a programmer and didn’t directly supervise the work of developers who were building FTX’s code,” SBF testified.

It Could Hunt SBF

According to Deaton, SBF’s testimony might be used against him during the sentencing of the case. If the prosecutors can prove that SBF indeed tampered with FTX user funds, the judge could sentence him to up to 40 years in prison.

Another crypto-defense lawyer also consented to the notion, stating that SBF’s testimony might result in more jail time if convicted of the charges against him.

“If convicted, his testimony might negatively impact him later at sentencing. The judge could cite his testimony as a factor justifying a higher sentence under the sentencing factors listed in 18 USC 3553. SBF’s trial testimony and any admissions he makes might also later impact his direct appeal if he attacks the sufficiency of the evidence,” the lawyer tweeted.