Set to appear in court in the first days of January to enter a plea deal, Bankman-Fried is "unlikely to receive a favorable deal from prosecutors," argued Mark Kasten, counsel in Buchanan Ingersoll and Rooney’s Blockchain and Crypto Assets practice group.
Kasten explained the government often requires defendants to assist in the prosecution of others in order to receive a cooperation credit. "Here, it is unlikely that Bankman-Fried can point the finger at anyone," said.
Bankman-Fried may also enter into an agreement similar to Caroline Ellison and Gagy Wang called "open plea", which means "prosecutors did not agree to recommend a specific sentence", noted Kasten, therefore leaving the defendant's sentence up to the judge.
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