Sam Bankman-Friedβs Lawyers Seek to Question FTXβs Counsel
Sam Bankman-Fried, the founder of the failed crypto exchange, is expected to testify starting Thursday. His lawyers have requested permission to question him about the involvement of FTX’s counsel in certain operations. They also want to elicit testimony on his knowledge of industry practices and his intentions and beliefs on November 12, 2022, to counter the inferences from Gary Wang’s testimony that Bankman-Fried directed the transfer of assets to Bahamian regulators against FTX’s legal counsel’s objections.
The defense team argues that Bankman-Fried’s understanding that auto-deletion policies were implemented under the guidance of lawyers is crucial in rebutting the prosecution’s claim that it demonstrates fraudulent intent. They also intend to ask him about his knowledge of lawyers’ involvement in structuring loans made from Alameda to FTX executives.
Motion to Elicit Testimony from FBI Agents Denied
Judge Kaplan has denied a request from Bankman-Fried’s lawyers to have FBI special agents Luke Booth and Kristin Allain testify in court. The defense claims that former FTX co-founder Gary Wang and head of engineering Nishad Singh provided inconsistent testimony compared to their earlier statements to the FBI.
Hot Take: Bankman-Friedβs Defense Strategy
In Sam Bankman-Fried’s upcoming testimony, his lawyers aim to establish his good faith belief and demonstrate that he acted with counsel involvement in various operations. By countering the prosecution’s arguments and presenting alternative explanations for his actions, they hope to cast doubt on the charges against him. However, Judge Kaplan’s denial of their request for FBI agents’ testimony may pose a challenge for Bankman-Fried’s defense. The trial continues as both sides present their arguments and evidence.
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