The Plot Thickens: Sam Bankman-Fried Incriminates Attorneys In FTX Fraud

Former FTX CEO Sam Bankman-Fried has lastly testified in court docket as his authorized staff begins to assemble a protection in opposition to prices of two counts of fraud and 5 counts of conspiracy. It could appear the 31-year-old former billionaire is now taking a unique tactic in his newest try to wiggle out of the fraud prices. 

Whereas taking the stand, SBF claimed his authorized staff gave the inexperienced mild for all of his shady actions main as much as the epic collapse of the change. 

Sam Bankman-Fried Takes The Witness Stand

The case in opposition to the previous FTX CEO is making headway in court docket because the failed crypto change continues to wrestle to bounce again from insolvency and presumably restart its operations. 

The prosecution closed its case final week after 12 trial days after calling on a number of key witnesses, together with Alameda Reserach’s ex-CEO Caroline Ellison, FTX’s co-founder Gary Wang, and former Director of Engineering Nishad Singh. Though these witnesses have additionally implicated Bankman-Fried, the protection continues to work on a not-guilty stand.

SBF’s protection staff introduced him because the third witness after Krystal Rolle, Bankman-Fried’s lawyer within the Bahamas, and database knowledgeable Joseph Pimbley. US District Choose Lewis Kaplan allowed SB to take to the stand at his fraud trial On October 26, exterior the jury’s presence. 

In his testimony, SBF claimed his legal professionals on the time, together with Dan Friedberg, authorised all of his actions, making him consider he was appearing in good religion and all the pieces was superb. 

The FTX founder mentioned legal professionals had been concerned in setting this method for diverting buyer funds into an Alameda checking account. Nevertheless, prosecutors have mentioned SBF mustn’t allowed to recommend that the involvement of legal professionals in decision-making is a sign of innocence of any wrongdoing. 

SBF counters that he was appearing with out prison intent on the recommendation of his attorneys. However when the prosecution’s lawyer Danielle Sassoon cross-examined him, he discovered it troublesome to quote particular situations during which his attorneys gave their approval.

“The witness has what I’ll merely name an attention-grabbing method of responding to questions,” Choose Kaplan mentioned.

The protection additionally made the purpose that testimonies from former FTX prime staff had been tailor-made to implicate Bankman-Fried within the hopes of them receiving lenient sentences.

What’s Subsequent For The FTX Founder’s Protection?

Prosecutors say Sam Bankman-Fried was key in diverting buyer funds to Alameda Analysis, whereas additionally donating greater than $100 million to political campaigns within the US. If convicted, the previous FTX CEO may spend as much as 20 years in jail.

SBF’s protection appears bleak for the time being, and Choose Kaplan has already disqualified seven of its witnesses. Bankman-Fried is predicted to testify to the jury on Friday, the place Kaplan is to determine if he may converse to the jurors about legal professionals approving his actions.

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