SBFs Expert Witnesses: $1,200/Hour

Sam Bankman-Fried’s Fraud Trial: Expert Witnesses and Trial Challenges

Sam Bankman-Fried, the founder of FTX, is preparing for his upcoming fraud trial and is reportedly planning to hire seven expert witnesses, including a law professor and former commissioner of the Federal Election Commission. These witnesses would provide insights into campaign finance laws, scrutinize FTX’s operations, and delve into its terms and conditions. Bankman-Fried is funding his legal defense with $10 million of company funds, despite previous claims of having only $100,000 remaining in his bank account. Lawyers handling the FTX bankruptcy case have also been charging the firm up to $2,000 an hour.

Main Points:

Bankman-Fried is planning to hire seven expert witnesses for his fraud trial at rates up to $1,200 per hour.
Potential witnesses would provide insights into campaign finance laws and scrutinize FTX’s operations.
Bankman-Fried is funding his legal defense with $10 million of company funds.
Lawyers handling the FTX bankruptcy case have been charging the firm up to $2,000 an hour.
The trial date for Bankman-Fried’s case may be postponed until March 2024 due to the late disclosure of significant amounts of evidence and the need for ample review time.

Despite the late disclosure of evidence and his legal team’s concerns about a fair trial, Bankman-Fried’s lawyers argue that the expert witnesses are crucial to supporting his claims of innocence. The trial has been further complicated by Bankman-Fried currently serving time in prison due to allegations of witness tampering. His lawyers have requested house arrest instead, citing challenges such as lack of quality internet access. The case continues to unfold amidst legal and logistical challenges.

Hot Take: Despite the mounting challenges and controversies surrounding Sam Bankman-Fried and FTX, the use of expert witnesses and the funding of his defense with company funds suggest a determined effort to contest the fraud charges. The outcome of this trial will have significant implications for Bankman-Fried’s reputation and the future of FTX.