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Why Sam Bankman-Fried Should Watch The Theranos Trial

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TV-G
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1:25

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J.D. DURKIN: Should SBF be paying attention to sentencing in the Theranos trial? We got that today, what do you think?

MARTIN BACCARDAX: Absolutely, I certainly think so. I mean, I don't want to get ahead of myself. He hasn't been indicted as of yet, and certainly hasn't been put on trial. But there are enough allegations that he should be watching today's events with interest. Theranos, of course, is the company that was founded and run by Elizabeth Holmes. It claimed to have had technology that was going to change blood testing and the health care system forever by doing sort of microscopic and multiple disease tests with a single prick. Of course, all of that turned out to be false. She was eventually convicted on investor and fraud charges.

She was acquitted of several others, it's probably worth remembering, but she does face sentencing today. Prosecutors are asking for up to 15 years in prison as a result of the fraudulent activities and the billions that were lost in the company failure. She is pushing for a much more reduced sentence of 18 months of at-home restrictions. Regardless of what happens today, She will be able to appeal the sentencing to the ninth district court in California. But again, we are looking at a criminal end to a company failure. And there is every chance that this is what we could see when we pick through the debris of FTX over the coming years.

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