Former FTX CEO Sam “SBF” Bankman-Fried to Testify in Defense Case
The defense team of former FTX CEO Sam “SBF” Bankman-Fried has announced that he will testify as part of his defense case. Attorney Mark Cohen revealed this during a telephone conference between SBF’s lawyers, prosecutors, and Judge Lewis Kaplan on October 25. After the prosecution completes its case on October 26, the defense plans to call three witnesses, including Bankman-Fried himself. Judge Kaplan has agreed to allow the case to proceed without interruption, moving directly from the prosecutors’ final witness to the defense’s first one.
Defense Case Expected to Last Three Days
The defense is expected to take no more than three days to question the three potential witnesses. These witnesses include an attorney based in the Bahamas, Joseph Pimbley from litigation consulting firm PF2 Securities, and an individual who will testify about the titles and responsibilities of former FTX employees. According to Judge Kaplan’s estimation, the defense case could take around an hour, excluding Bankman-Fried’s testimony.
Closing Arguments Possible by October 31
The United States government is expected to conclude its case against SBF on the morning of October 26, with defense attorneys likely finishing their questioning the following day. Prosecutors have stated that they are unsure if rebuttal witnesses will be necessary depending on Bankman-Fried’s testimony. Closing arguments could be held before October 31.
Potential for Special Verdict
Judge Kaplan raised the possibility of pursuing a special verdict in the case. This would involve the jury giving its findings on factual issues without stating which party should win. The government’s wire fraud count against SBF alleges that he made false representations and violated a trust relationship with depositors. Assistant U.S. Attorneys Nicolas Roos stated that the false representations created an impression of trust and confidence among the victims.
Bankman-Fried’s Testimony and Previous Witness Statements
Bankman-Fried’s testimony will follow statements from former FTX and Alameda executives who admitted to committing crimes on the stand, often under SBF’s direction. The criminal case alleges that SBF was responsible for Alameda using FTX funds without customer knowledge. It is uncertain what information Bankman-Fried will provide to counter the narrative put forth by other witnesses. The trial has been on hiatus since October 19 and is expected to resume on October 26.
Hot Take: Bankman-Fried’s Testimony Crucial for His Defense
The upcoming testimony of Sam “SBF” Bankman-Fried in his defense case could be crucial for his legal team. With previous witnesses admitting to committing crimes under his direction, it remains to be seen how Bankman-Fried’s testimony will counter this narrative. The defense case is expected to last around three days, with closing arguments potentially happening before the end of October. The possibility of a special verdict has also been raised by Judge Kaplan. As the trial resumes on October 26, all eyes will be on Bankman-Fried’s testimony and its impact on the outcome of the case.
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