Federal Prosecutors Reveal Witness List in Sam Bankman-Fried Trial
Federal prosecutors have disclosed their list of witnesses who will testify in the criminal case against Sam Bankman-Fried, the disgraced founder of FTX. The prosecutors plan to present testimony from FTX customers and investors affected by the company’s collapse, emphasizing how they believed their digital assets would be protected. They will also rely on non-U.S. citizens to explain their expectations regarding the safety of their funds deposited with FTX. Among the witnesses is an unnamed citizen of Ukraine, referred to as “FTX-Customer 1,” who lost a significant portion of their life savings due to the ongoing war with Russia.
Co-Conspirators and Deals
The government intends to use testimony from individuals who have entered guilty pleas or received immunity to demonstrate how they and Bankman-Fried conspired to cause FTX’s failure. While the filing does not name them, members of Bankman-Fried’s inner circle, including FTX co-founder Gary Wang and former head of engineering Nishad Singh, have already reached cooperation agreements with prosecutors. Caroline Ellison, former CEO of Alameda Research and Bankman-Fried’s former partner, has also admitted wrongdoing. Defense lawyers for Bankman-Fried have objected to the government’s proposed juror questions, claiming bias.
Hot Take: Sam Bankman-Fried Faces High-Stakes Trial
The upcoming trial of Sam Bankman-Fried, the founder of FTX, carries significant consequences for the once-prominent cryptocurrency figure. Accused of money laundering, wire fraud, and illegal political donations, Bankman-Fried could face decades in prison if convicted. Federal prosecutors aim to establish through witness testimony that customers and investors had reasonable expectations about how FTX would handle their assets. The inclusion of non-U.S. citizens highlights the international nature of FTX’s client base. With cooperation agreements already in place with key figures close to Bankman-Fried, the trial will shed light on the alleged conspiracy behind FTX’s collapse.
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