US Justice Department Rests Case Against Sam Bankman-Fried
The United States Justice Department has concluded its case against Sam “SBF” Bankman-Fried after more than three weeks of expert witnesses and testimonies from former FTX and Alameda employees. The last witness for the government was FBI agent Mark Troiano, who testified about SBF’s involvement in numerous Signal groups. Following Troiano’s testimony, Bankman-Fried’s lawyers motioned to dismiss the case, but the judge denied the motion.
Defense Witnesses Support Bankman-Fried
Bankman-Fried’s attorneys presented two witnesses in his defense. Krystal Rolle, a Bahamas-based attorney, testified that she accompanied SBF to a meeting with the Securities Commission of the Bahamas and witnessed him transferring FTX assets to authorities. Joseph Pimbley from PF2 Securities testified that he extracted data from Amazon Web Services on Alameda Research’s line of credit with FTX and data on millions of crypto exchange users. The defense argued that Pimbley had no knowledge of how FTX funds were used.
Judge Kaplan’s Reaction and Bankman-Fried’s Expected Testimony
Judge Kaplan frequently pushed back on questions from Bankman-Fried’s lawyers during the trial. At the time of publication, Bankman-Fried had not yet testified, but his lawyers anticipated that he would spend approximately four hours on the stand. Defense attorneys informed Judge Kaplan that they planned to have Bankman-Fried testify as part of their case.
Upcoming Trial and Plea
The trial is expected to conclude soon with closing arguments and the judge considering any motions from both sides. However, Bankman-Fried will face five more criminal counts in a second trial scheduled for March 2024. He has pleaded not guilty to all charges in both cases.
Hot Take: Bankman-Fried’s Defense Presents Strong Witnesses
The defense team for Sam Bankman-Fried presented compelling witnesses who supported his case. The testimony from Krystal Rolle and Joseph Pimbley highlighted important aspects of the defense’s argument, including Bankman-Fried’s cooperation with authorities and the lack of knowledge regarding FTX fund usage. Despite pushback from Judge Kaplan, Bankman-Fried’s lawyers are confident in their client’s forthcoming testimony. As the trial nears its end, it remains to be seen how the closing arguments and potential motions will impact the outcome. Additionally, Bankman-Fried’s upcoming second trial adds another layer of complexity to this high-profile case.
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