SBF’s Lawyers Request Introduction of Evidence Supporting Positive Investment Outcomes
In a motion filed on Oct. 10, Sam “SBF” Bankman-Fried’s lawyers have requested that the court allow for the introduction of evidence supporting positive investment outcomes, specifically mentioning an investment in the artificial intelligence (AI) startup Anthropic.
This request comes after United States prosecutors filed a motion on Oct. 9 to prevent SBF’s legal team from making arguments related to FTX customer funds recovery through the Anthropic investment.
The Department of Justice (DoJ) alleges that Bankman-Fried made a $500 million investment in Anthropic using fraudulent funds from customer deposits. However, SBF’s lawyers argue that the government’s position misrepresents the relevance of this evidence and have asked the court to deny the government’s motion.
Defense Highlights Positive Investment Outcomes
The defense lawyers also pointed out that the government had previously brought up Alameda’s venture investments during the trial, describing them as “risky” and “losing money.” In response, they argued that evidence of positive investment outcomes, such as Anthropic, should be allowed to be introduced.
Anthropic Receives Major Investments
Anthropic, the AI startup in question, has recently received significant investments from e-commerce giant Amazon ($4 billion) and South Korean telecommunications giant SK Telecom ($100 million).
No Objection to Limiting Instruction
SBF’s lawyers stated that they have no objection to the court providing an “appropriate limiting instruction” regarding how the evidence of Anthropic investment can be used.
Criminal Trial Continues
The second week of the criminal trial for Sam Bankman-Fried, former CEO of FTX exchange, is currently underway. Bankman-Fried is facing charges of conspiracy and fraud related to the collapse of FTX, and he has pleaded not guilty.
Hot Take: SBF’s Lawyers Seek to Present Evidence of Positive Investment Outcomes
Sam Bankman-Fried’s defense team is fighting back against allegations that his investment in Anthropic, an AI startup, was made using fraudulent funds from customer deposits. They have requested the court’s permission to introduce evidence supporting positive investment outcomes, arguing that the government’s portrayal of Alameda’s venture investments as “risky” and “losing money” warrants the presentation of successful investments like Anthropic. The defense has no objection to the court providing a limiting instruction for the use of this evidence. As the criminal trial continues, it remains to be seen how the court will rule on this matter.
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