Jurors charged with the task of deciding on the guilt of Anton and James Peraire-Bueno concerning the alleged misuse of MEV (Maximal Extractable Value) bots on the Ethereum blockchain found themselves grappling to reach a decision as the weekend approached.
Reports from Inner City Press indicated that in a New York City court, the jurors approached the judge to seek clarity on the intent behind the actions of the defendants. Despite receiving guidance from the judge, they reportedly faced challenges in achieving a unanimous verdict.
A suggestion from the reporting indicated the possibility of the jury delivering a not guilty verdict on at least one allegation related to conspiracy for wire fraud, money laundering, and conspiracy to receive stolen property. Judge Jessica Clarke declined the defense’s request for a mistrial and instructed the jury to remain and continue their deliberations.
As of Friday afternoon, the jury’s discussions had extended over almost three business days, significantly longer than similar cases in cryptocurrency fraud. Conversely, in the criminal case against former FTX CEO Sam Bankman-Fried, the jury took about five hours to convict him on several felony charges.
The accusations against the Peraire-Bueno brothers revolve around claims that they allegedly utilized MEV bots to extract approximately $25 million in cryptocurrency from the Ethereum network in 2023. The prosecutors argued that the defendants deceived the system by posing as honest validators on the blockchain.
What is the duration allowed for jury deliberations?
As the article was being prepared, it remained uncertain whether a verdict would be reached before the end of the day. In a note presented to the judge on Thursday, the jurors stated they could remain until 7:30 PM ET on Friday.
There typically aren’t restrictions governing how long a jury can deliberate; however, a judge may step in to enhance the pace of discussions or grant a mistrial if the jury suggests they are at an impasse. In the case of the Peraire-Buenos, Clarke has not issued an Allen charge, which usually encourages a hung jury to come to a consensus.
