Defense Attorneys Seek Changes to Jury Instructions in FTX CEO Trial
The defense attorneys representing former FTX CEO Sam Bankman-Fried have written a letter to Judge Lewis Kaplan, requesting changes to the jury instructions in the ongoing trial. They want the jury to consider the role of English law in governing FTX’s terms of service.
The Importance of English Law in FTX’s Terms of Service
In their proposal, the defense attorneys argue that for misappropriation to have occurred, there must have been a trust, fiduciary relationship, or similar relationship between FTX and its customers. However, FTX’s terms of service clearly state that no such relationship existed.
The defense team emphasizes that under English law, the terms of service do not establish a trust or fiduciary relationship between FTX and its customers. They further state that any post-agreement representations made by the company do not create such a relationship either.
Use of UK Cases as Precedent
To support their argument, Bankman-Fried’s defense team refers to several cases from the United Kingdom. They believe that these examples can help secure a not-guilty verdict for their client.
Multiple Requests Made by Bankman-Fried’s Attorneys
Throughout the trial, Bankman-Fried’s attorneys have made various requests to Judge Kaplan. These include requests for early bail before the trial due to inadequate amenities for preparation. However, most of these requests have been denied.
Bankman-Fried’s Charges and Denials
The former FTX CEO is currently facing charges of fraud and misappropriation of customer funds for personal expenses. Bankman-Fried has consistently denied any misuse of funds and maintains his innocence. He has also previously faced allegations of witness tampering.
Hot Take: Defense Team Argues English Law to Defend Bankman-Fried
The defense attorneys representing Sam Bankman-Fried in his trial have put forward a proposal requesting the jury to consider the role of English law in FTX’s terms of service. They argue that no trust or fiduciary relationship existed between FTX and its customers, as clarified in the terms of service. By citing UK cases, the defense hopes to strengthen their argument and secure a not-guilty verdict for their client. Bankman-Fried’s attorneys have made multiple requests throughout the trial, but most have been denied. The former FTX CEO faces charges of fraud and misappropriation of customer funds, which he denies.
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