Prosecution Calls Witnesses in Sam Bankman-Fried’s Criminal Trial
The criminal case against former FTX CEO Sam Bankman-Fried, also known as SBF, is underway, with the prosecuting attorneys presenting witnesses. One of the witnesses called to testify was Marc-Antoine Julliard, a London-based cocoa broker who used FTX for crypto trading. Julliard shared his experience of learning about FTX from a friend and seeing advertisements featuring Gisele Bündchen. He also mentioned using the FTX mobile app to trade cryptocurrencies like Dogecoin.
Julliard revealed that he had 4 Bitcoin worth around $80,000 at the time but was unable to withdraw it from FTX after Bankman-Fried’s assurance that “assets were fine” through a Twitter post. During his testimony, Julliard faced questions from SBF’s legal team regarding his contact with FTX and his reasons for investing in crypto.
Other Witnesses Expected to Testify
In addition to Julliard, several other witnesses are expected to testify in the trial. This includes former Alameda Research CEO Caroline Ellison, FTX co-founder Gary Wang, former FTX engineering director Nishad Singh, former FTX chief operating officer Constance Wang, and SkyBridge Capital co-founder Anthony Scaramucci. It remains uncertain whether Bankman-Fried himself will take the stand.
Criminal Charges and Defense Strategy
Sam Bankman-Fried is facing seven criminal charges related to the alleged misuse of FTX customer funds. The prosecution claims that he lied to FTX users, lawmakers, and the public about the financial state of the company. In his defense, Bankman-Fried’s legal team partly attributes blame to Caroline Ellison.
This is Bankman-Fried’s first trial, and he has pleaded not guilty to the charges. However, he will face an additional five charges in a second trial scheduled for March 2024.
Hot Take: Opening Arguments Begin in Sam Bankman-Fried’s Criminal Trial
The criminal trial of former FTX CEO Sam Bankman-Fried is now underway, with the prosecution presenting witnesses to support their case. The first witness, Marc-Antoine Julliard, a cocoa broker from London, testified about his experience using FTX for crypto trading and his inability to withdraw Bitcoin from the platform. Several other witnesses are expected to testify during the trial, including notable figures from the crypto industry.
Bankman-Fried faces multiple criminal charges related to the alleged misuse of FTX customer funds. The defense team is pointing fingers at Caroline Ellison as part of their strategy. It remains to be seen how the trial will unfold and whether Bankman-Fried will take the stand himself.
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