Prosecutors’ Requests for Jury Instructions
Sam Bankman-Fried’s lawyers and U.S. prosecutors have submitted revised proposals for potential jury instructions to District Judge Lewis A. Kaplan in the ongoing criminal trial of the failed crypto exchange founder.
In a letter filed to the judge, the prosecutors requested an instruction stating that a defendant’s intent to repay misappropriated or fraudulently obtained funds is not a defense. They argued against the defense’s attempt to introduce evidence suggesting that Bankman-Fried’s misappropriation of FTX customer funds was not criminal because he believed he could repay customers.
The Department of Justice emphasized that the defendant’s intent to repay is irrelevant as a matter of law, as long as there was an immediate intent to defraud and misapply the funds.
The prosecutors also requested an instruction stating that a defendant’s moral or political beliefs are not a defense if they motivated them to break the law. They cited Bankman-Fried’s philosophy of “effective altruism” and argued that good motives alone do not excuse fraud or other criminal charges.
Defense’s Requests for Jury Instructions
Bankman-Fried’s defense counsel argued in their filing that the jury should understand that only crimes defined by statute can be considered by the U.S. legal system. They stated that personal beliefs about what is morally wrong or unfair are irrelevant in determining guilt.
The defense team emphasized that vague feelings or beliefs about wrongdoing or what the law should or should not prohibit are insufficient grounds for conviction. They stated that a witness’s opinion on what the law should have prohibited cannot be used as evidence in convicting someone.
Regarding the charge of wire fraud on FTX customers, the defense team argued that the purpose of the scheme must be to obtain money or property. They specified that property refers to traditional property interests and does not include intangible interests or potentially valuable economic information.
Hot Take: The Battle Over Jury Instructions
The ongoing criminal trial of Sam Bankman-Fried, the founder of a failed crypto exchange, has seen a clash between prosecutors and the defense over proposed jury instructions. Prosecutors argue that Bankman-Fried’s intent to repay misappropriated funds or his moral/political beliefs are not valid defenses. They emphasize that immediate intent to defraud is enough to establish guilt. On the other hand, the defense claims that personal beliefs and vague feelings about wrongdoing should not be considered in determining guilt. As the trial continues, the decision on jury instructions will play a crucial role in shaping the outcome of this high-profile case.
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