‘BOUGHT A CELLO’

Potential Jurors Have Lots of Excuses to Dodge Bankman-Fried Trial

Not everyone is clamoring to participate in the biggest fraud case of the decade.

The world’s least sexy matchmaking process is underway in Manhattan federal court, as prosecutors and defense attorneys work to fill the jury box in the trial of Sam Bankman-Fried. Some potential jurors aren’t thrilled to be in contention and are giving the court wild reasons they deserve to be excused.

The trial is expected to take six weeks, though Judge Lewis Kaplan thinks things may wrap up sooner. Bankman-Fried—whose tumbleweed hairdo was pruned in advance of the trial—faces decades of possible prison time. Four of his former coworkers have pleaded guilty to federal charges, at least three of whom are cooperating with the prosecution. The former crypto billionaire has pleaded not guilty.

Several possible jurors gave traditional explanations for why they couldn’t serve: vacations, work obligations, health issues. Others, less so. The most outlandish excuse came from a man who reportedly said he recently bought a cello and now has to come up with $600 each month to pay it off.

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Then there was the lady who said she is leaving the country for work. Her place of business: the Miss Universe pageant. (She works in operations.)

Asked whether he had heard of Bankman-Fried or his fallen crypto exchange, FTX, a third potential juror said he had learned about the topic from a knowledgeable podcast host. The host was Joe Rogan.

Kaplan worked to keep the tone light during the proceedings, telling possible jurors to abandon preconceptions they may have had from TV shows or films. When one person disclosed that they take cholesterol medication and blood thinners, the judge replied, “Welcome to the club.”

Other members of the jury pool chimed in with questions, concerns, and non-sequiturs. An individual who said he couldn’t stomach sentencing a defendant to death was informed that his worries were not relevant; a man who wasn’t sure if his company would pay him during the entire trial was told to give the court his employer’s phone number; a potential juror wanted the judge to know that he is juggling a competing legal responsibility: His “company is being sued.”

Many of the potential jurors also said they were already well-acquainted with the case—an unsurprising fact, given that the fall of FTX and Bankman-Fried’s criminal charges were one of the most closely watched stories of the year. At least one person said their employer had lost money investing in Bankman-Fried’s firms.

The former crypto princeling—who was once revered for his promotion of crypto regulation and massive charitable donations—stands accused of seven charges including conspiracy to commit money laundering, wire fraud, and securities fraud. At the heart of the case are billions of dollars in FTX customer funds that prosecutors say SBF allowed to be improperly transferred to a connected hedge fund, Alameda Research, run by his on-and-off girlfriend, Caroline Ellison.

All in all, customers and investors say they lost $8 billion in the company’s bankruptcy—meaning there are plenty of angry customers to be avoided in the jury pool.

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Emily ShugermanSenior Reporter

Noah KirschWealth and Power Reporter

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