The Trial of Sam Bankman-Fried

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Latest Episodes:

25 Years Behind Bars For The Former Crypto King Mar 28, 2024

Disgraced former FTX CEO Sam Bankman-Fried was sentenced to 25 years Thursday for financial fraud and his role in the collapse of his cryptocurrency exchange and the hedge fund Alameda Research.

On a very special episode of podcast, former federal prosecutor and Partner at Cahill Gordon & Reindel, Sam Enzer rejoins FOX Business’ Kelly O’Grady to react to the sentence, analyze what message it sends to others in the crypto industry, and discuss how SBF compares to other notorious white-collar criminals like Bernie Madoff.

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What’s Next For SBF & The Crypto Industry? Jan 10, 2024

In a few short months, we will learn the fate of Sam Bankman-Fried, who is expected to face anywhere from 20 to 115 years in prison after his company, FTX, defrauded customers of billions. By then, the crypto industry may be in a completely new landscape due to breaking developments.

Partner at Cahill Gordon & Reindel, Sam Enzer, and former Yahoo Finance anchor and CEO of Trustless Media, Zack Guzman, both join Kelly O’Grady to break down the legal and crypto angles to the conclusion of the SBF saga.

They discuss why the DOJ did not pursue their second trial of Bankman-Fried, the most dramatic moments from the trial, and they weigh in on how transformational the SEC approval of a Bitcoin ETF would be for the industry.

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The Crypto Chaos Of 2023, Revisiting SBF's Historic Guilty Verdict Dec 28, 2023

The end of 2023 is near and now comes a reflection point for the crypto industry. Sam Bankman-Fried, once running one of the world's most successful cryptocurrency exchanges, was finally convicted for defrauding FTX customers of billions of dollars.

Today, we revisit our interview with white collar criminal defense expert and Partner at Cahill Gordon & Reindel, Sam Enzer, who gave his reactions to this historic verdict.

Together, Kelly and Sam break down the major sticking points that lead to SBF's ultimate conviction and its implications for bad actors in the crypto space.

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"The Most Important Crypto Event Ever": 2023's Purge Of Crypto's Bad Actors Dec 13, 2023

2023 has been packed with regulatory action and criminal charges against some of the crypto industry's biggest players. With governments drawing clear red lines on the rules of crypto, Bitcoin has performed well, bringing many to ask: Is this the end of the crypto winter?

Chief Investment Officer at Unicoin, Alex Dominguez, joins the podcast to recap the events this year that saw customers lose faith in crypto and his belief that, with bad actors gone, soon crypto will become an incredible success.

He explains how his own company, Unicoin, is operating with as much transparency as possible and signs that businesses will soon fully embrace cryptocurrency.

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Another Crypto Exchange Caught Breaking The Law Nov 30, 2023

Binance, the world's biggest cryptocurrency exchange, has been slapped with a $4 billion fine by the US government. The DOJ says the platform knowingly allowed bad actors to launder money through Binance, and now the CEO, Changpeng Zhao, has resigned and pleaded guilty to federal charges.

Former Chief Strategy Officer at Binance, Patrick Hillman, joins the podcast to give his reaction to the scandal and where the company went wrong.

He joins Kelly on the podcast to break down the difference between the scandals at FTX and Binance, why we should expect more crypto companies to face a crackdown from the DOJ, and how regulation could save the crypto space.

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"Where Did Our Money Go?": What Happens To The FTX Victims Nov 15, 2023

SBF now awaits his sentencing for several financial crimes related to defrauding his FTX exchange customers. Despite authorities working to track down customers' stolen funds, some are sure they may never recover what they lost.

Evan Luthra is a tech entrepreneur, angel investor, and FTX customer who lost nearly $2 million after the exchange's collapse.

He joins the podcast to share the moment he realized his money was essentially gone and the difficult and unlikely process of getting it back. He explains how, as a longtime believer in the future of cryptocurrency, he believes cryptocurrency will bounce back strong after the fall of SBF.

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Sentencing To Send A Message: How Long Will SBF Spend Behind Bars? Nov 08, 2023

Nearly one week since the SBF’s guilty verdict, what comes next for the crypto-billionaire turned convicted fraudster as he faces decades in prison and another trial in March?

Former prosecutor in the Southern District of New York U.S. Attorney’s Office, storied defense attorney, and leader of the team that took down Bernie Madoff, Marc Litt, joins the podcast to share what factors led to Bankman-Fried’s legal demise.

He explains how this case always came across to him as a “plain vanilla securities fraud case in a crypto wrapper,” the likelihood that the government will drop their March trial against SBF, and the difference between this case and Madoff’s.

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The Verdict Is In: SBF Guilty On All Counts Nov 03, 2023

The verdict is in: Sam Bankman-Fried was found guilty on all seven counts of fraud, money laundering, and conspiracy. Now, the FTX founder could face up to 110 years in prison.

White collar criminal defense expert and Partner at Cahill Gordon & Reindel, Sam Enzer, rejoins the podcast to explain how the law could make an example out of SBF with a long sentence.

He walks Kelly through the hurdles SBF’s defense team faces in appealing the jury’s decision, the likelihood of a life sentence for Bankman-Fried, and how the result of the case serves as a warning sign for bad actors in the crypto space.

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“The Smartest Guy In The Room” Vs. The Jury Nov 01, 2023

SBF endured another day on the stand, where prosecutors sought to dispute his unawareness and inaction as FTX’s CEO. Now that testimony has wrapped up, the closing arguments are ongoing, and soon the jury is expected to take up the case.

World-class forensic accountant, expert witness on the Madoff case, and founder of Dubinsky Consulting, Bruce Dubinsky, joins the podcast to break down what SBF’s “digital fingerprints” revealed and his testimony’s impact on his credibility.

Dubinsky called the testimonies of SBF’s inner circle a major win for the prosecution and drew parallels from his experience as a government expert on the Madoff case. He breaks down what the evidence revealed about what SBF really knew, how the prosecution simplified this crypto case for the jury, and what criminal counts he is watching closely.

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SBF Takes The Stand Oct 30, 2023

In his testimony before the jury, Sam Bankman-Fried argued it was his FTX lieutenants who committed financial fraud without his knowledge, earning intense grilling from the prosecution as well.

Clinical professor and Director of the Securities Law Clinic at Cornell Law School, William Jacobson, joins the podcast to explain what could be learned from SBF’s testimony and what to expect from closing arguments.

Professor Jacobson analyzes the necessary gamble of SBF’s jury testimony and how Sam’s narrative of the FTX collapse contradicts the testimonies from his inner circle. He explains the main challenges facing the prosecution: the burden of proof and the complexity of this alleged financial crime.

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FTX Collapse Puts The Whole Crypto Industry On Trial Oct 25, 2023

SBF is expected to take the stand on Thursday, likely to share his team’s narrative that FTX fell apart due to incompetence rather than criminality. FTX’s collapse certainly shook faith in crypto as an industry.

Natalie Brunell is a crypto aficionado and host of The Coin Stories podcast. She joins the episode to explain how cryptocurrency and their exchanges are supposed to function versus how Sam Bankman-Fried actually ran FTX.

She explains the key differences between crypto and Bitcoin and why Bitcoin could prove to be an inflation-proof investment opportunity. Natalie lays out how regulators are cracking down on unlicensed securities and the impact bad actors have had on the industry.

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"A Massive Fraud": Will A Jury Believe Sam Bankman-Fried? Oct 23, 2023

The prosecution has nearly wrapped up its case against SBF. After many within Sam's inner circle pleaded guilty and testified against him with corroborated evidence, his defense team has a difficult decision ahead of them: Should SBF take the stand in his own defense?

White collar criminal defense expert and Partner at Cahill Gordon & Reindel, Sam Enzer, joins the podcast to recap the biggest evidence and testimony unveiled by the prosecution.

He explains the tall task of proving fraud beyond a reasonable doubt, the "smoking gun" evidence within the case, and how he would advise Bankman-Fried against testifying.

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Is Taking The Stand Sam Bankman-Fried's Only Chance? Oct 18, 2023

A pair of accountants and a FTX lobbyist took the stand today as the prosecution looks to be just days away from wrapping up. With the jury only seeing witness after witness testifying Sam Bankman-Fried knew he was defrauding customers, will the defense have no choice but to put him on the stand?

Former Assistant U. S. Attorney specializing in white-collar criminal defense, trial lawyer and counselor, Kevin J. O'Brien, joins the podcast to discuss the possibility of Sam Bankman-Fried taking the stand and risking a cross-examination — could it be the thing to save him or put the final nail in his coffin?

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Crypto Outsider To Kingmaker To Fraudster? Oct 16, 2023

The prosecution laid out damning testimony from SBF’s inner circle, including leaked audio from a company all-hands meeting explaining how the company was paying their debts with customer money, all under the explicit direction of Bankman-Fried.

Crypto-entrepreneur and Chief Analytics Officer at Pioneer Development Group, Christopher Alexander, joins the podcast to explain how SBF went from crypto outsider to kingmaker‒and the alleged fraud that toppled his empire.

He joins to break down how the trial showed SBF’s “effective altruism” led him to take illegal shortcuts, the prosecution’s task of sorting how much of this was incompetence versus criminal behavior, and the courtroom controversy surrounding SBF’s demand for Adderall in order to take the stand.

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Caroline Ellison Paints SBF As FTX's Criminal Mastermind Oct 11, 2023

Caroline Ellison testified in court today, laying out a detailed history of Sam Bankman-Fried’s wrongdoings. She says he called the shots at FTX and Alameda Research; cooking the company’s books, stealing customers’ money, even mulling a sale to the Saudi crown prince to keep the sinking company afloat.

Host of Kennedy Saves The World, Kennedy joins the podcast to break down the latest in the trial.

She joins to break down the explosive testimony from Caroline Ellison about SBF’s rampant criminal behavior, how SBF’s defense team is likely to attack Ellison in cross-examination, the salacious rumors about the FTX company culture, and the permanent damage to Bankman-Fried’s reputation.

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FTX Co-Founder Testifies The Company Knew What It Was Doing Oct 09, 2023

Gary Wang was once one of Sam Bankman-Fried’s closest confidants, co-founding FTX with him. In court, he testified before the jury that SBF not only knew his company was illegally taking customer funds, but that Sam had the final say on the matter.

Former Yahoo Finance anchor, founder, and CEO of Trustless Media, Zack Guzman, who knows Sam Bankman-Fried personally.

He joins to explain how the prosecution and defense handled Gary Wang’s accusations, whether SBF will take the stand, and what to expect from this week’s bombshell testimony from SBF’s ex-girlfriend, Caroline Ellison.

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A Fraud Worse Than Madoff? His Defense Attorney Weighs In Oct 04, 2023

SBF's fraud trial is underway, with 12 jurors selected on Wednesday who will decide his fate. Many have called out Bankman-Fried’s actions as a fraud worse than Madoff. The attorney who represented Bernie Madoff, Ira Sorkin, joins to discuss the weight of this case.

He breaks down why a jury doesn’t need to be cryptocurrency experts to understand a financial crime, SBF’s risky legal defense strategy, and the decisive role his ex-girlfriend Caroline Ellison will play in the trial.

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Mr. Wonderful On The Fall Of FTX Oct 02, 2023

On the eve of Sam Bankman-Fried's fraud trial, Shark Tank's Kevin O'Leary joins host Kelly O'Grady to discuss the collapse of FTX.

He explains why the cryptocurrency exchange was so attractive to investors like himself, what possible "red flags" he saw with Sam Bankman-Fried's company before it went bankrupt and how the eccentric founder was charged with seven counts of fraud and conspiracy.

Later, the famous entrepreneur and O'Leary Ventures founder weighs in on how the trial could hurt the future of cryptocurrency.

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Trial of Sam Bankman-Fried Trailer Oct 02, 2023

Every Monday and Wednesday host Kelly O’Grady speaks with plugged in experts to discuss the latest twists and turns in the case against the FTX CEO.

Sam Bankman-Fried, FTX founder, was arrested in the Bahamas a day before he was to testify before the House Financial Services Committee.

Bankman-Fried is accused of defrauding customers and investors to fund a lavish lifestyle, officials said. Federal prosecutors said beginning in 2019, he diverted their money to cover expenses, debts and risky trades at his crypto hedge fund, Alameda Research, in addition to making lavish purchases and illegal campaign contributions without telling his customers, according to a 13-page indictment.

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