FTX Founder’s Witnesses Barred from Testifying at Trial
Seven witnesses proposed by FTX founder Sam Bankman-Fried have been barred from testifying at his upcoming trial. Judge Lewis Kaplan ruled that the witnesses did not meet the necessary criteria for a criminal trial, including lack of clarity regarding their intended testimony and concerns about their suitability for the case. One of the witnesses, former Federal Election Commission chair Bradley Smith, was expected to bill Bankman-Fried’s legal team $1,200 per hour to testify on US campaign finance laws and straw donors. Another witness, Peter Vinella, also raised doubts about his qualifications.
Judge Raises Questions about Defense Strategy
The judge’s decision has raised questions about the defense strategy in this high-profile case. The witnesses included British barrister Lawrence Akka, Thomas Bishop and Joseph Pimbley from consulting firms, Brian Kim, a data analytics and forensics expert, law professor Bradley Smith at Capital University Law School, and Andrew Di Wu, an assistant professor at the University of Michigan. Additionally, the judge rejected Bankman-Fried’s motion to block a proposed financial analysis from testifying for the prosecution.
Possibility for Witnesses to Respond to Prosecution Testimony
Judge Kaplan’s ruling does leave an opening for the defense to call some of the witnesses to respond to testimony by prosecution witnesses. However, strict conditions must be adhered to, including providing a complete disclosure at least three days before the relevant witness is called. The Department of Justice also retains the right to object to these witnesses.
Upcoming Trial for Sam Bankman-Fried
Sam Bankman-Fried is scheduled to appear in court for his first criminal trial on October 3rd. He faces seven criminal charges related to the alleged misuse of user funds at FTX and affiliate Alameda Research. In March 2024, he will face an additional five criminal charges. Throughout the legal proceedings, Bankman-Fried has maintained his innocence, pleading not guilty to all counts. He has been detained at the Metropolitan Detention Center in Brooklyn since his bail was revoked in August. His recent appeal for early release was denied on September 21st.
Hot Take: Defense Strategy in Question as Bankman-Fried’s Witnesses Barred from Testifying
The decision by Judge Lewis Kaplan to bar seven witnesses proposed by FTX founder Sam Bankman-Fried from testifying at his trial next month has raised questions about the defense strategy in this high-profile case. The judge cited concerns about the witnesses’ qualifications and lack of clarity regarding their intended testimony as reasons for his ruling. This ruling leaves an opening for the defense to call some of the witnesses to respond to prosecution testimony, but strict conditions must be met. Bankman-Fried is set to appear in court on October 3rd for his first criminal trial, facing multiple charges related to the alleged misuse of user funds.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.