Prosecutors in FTX Founder’s Trial Compare Defense Argument to “Dumb and Dumber” Scene
In the criminal trial against Sam Bankman-Fried, the founder of FTX, prosecutors have likened one of the defense’s arguments to a scene from the movie “Dumb and Dumber.” The defense argued that if FTX customers received a credit to transact on the exchange, it does not mean they were deprived of property. However, prosecutors claim this argument is disconnected from the facts of the case. They assert that a credit to obtain funds at a later date is not equivalent to having the money or property itself.
FTX Allegedly Siphoned Billions from Customer Accounts
The government’s case revolves around FTX siphoning billions of dollars from customer accounts and using them to cover losses at Alameda Research, a sister hedge fund. The funds were also allegedly used for personal expenses and political donations. As a result, customers were unable to retrieve their money as both FTX and Alameda faced financial difficulties.
The Defense’s Claim Disputed by Prosecutors
Prosecutors argue that the defense’s claim that customers still had credit for their deposited funds is unfounded. They contend that having a credit is not as valuable as having the actual money or property. In an analogy to “Dumb and Dumber,” prosecutors compare a briefcase filled with money to one filled with IOUs, highlighting the difference in value.
Judge Kaplan Criticizes Lawyers’ Behavior
During the trial, Judge Lewis Kaplan has expressed concerns about the demeanor of both sides’ lawyers. He has held sidebar meetings with them to address these issues and urged better communication between the parties. The trial will resume next week and continue into November.
Hot Take: Prosecutors Use “Dumb and Dumber” Analogy to Discredit Defense Argument
In the criminal trial of FTX founder Sam Bankman-Fried, prosecutors have compared one of the defense’s arguments to a scene from the movie “Dumb and Dumber.” The defense claimed that customers still had credit for their funds even if the money was used for other purposes. However, prosecutors argue that having a credit is not equivalent to having the actual money or property. They liken this argument to a briefcase filled with IOUs instead of money. The trial, presided over by Judge Kaplan, has also seen criticism of lawyers’ behavior. The trial will continue in November.
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