Since his December arrest on fraud charges, FTX founder Sam Bankman-Fried and his lawyers have suggested part of his defense will be seeking to distance himself from the day-to-day operations of the now-bankrupt cryptocurrency exchange.
It is common for defendants to challenge the credibility of cooperating witnesses, often arguing that they are motivated to lie and implicate others in a bid to win leniency.
"The defendant is going to say, 'No, you did it, you're the one who was the most responsible, and now you're trying to blame me,'" said Rebecca Mermelstein, a former Manhattan federal prosecutor and now a partner at O'Melveny.'VERY DIFFERENT VIEW' Bankman-Fried's defense lawyer Mark Cohen also challenged another of Ellison's statements to prosecutors: according to U.S. District Judge Lewis Kaplan, she told them that Bankman-Fried had instructed FTX employees it was "best not to have documents" because they could be used as evidence.. "That's for trial, your Honor, but that's not what happened.
It also complicates Bankman-Fried's defense because it contains references to an electronic message Bankman-Fried received from Ellison, as well as messages between him and Singh, who is referred to in the indictment as CC-1. Prosecutors described the conversation between the two men as a plot to conceal a scheme to make illegal political campaign donations.
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Sam Bankman-Fried hearing set, but he can stay on West CoastThe federal judge presiding over the case prosecutors brought against FTX founder Sam Bankman-Fried said Tuesday that the cryptocurrency entrepreneur can remain on the West Coast while his lawyers attend a hearing Friday.
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THE HASH: Voyager Denies SEC Claims VGX Token Is a Security; Sam Bankman-Fried May Soon Use a Flip PhoneListen to this episode from CoinDesk Podcast Network on Spotify. The most valuable crypto stories for Monday, March 6, 2023. Bankrupt crypto lender Voyager Digital has denied claims by the U.S. Securities and Exchange Commission that its VGX token is a security, as it seeks court approval for a $1.02 billion buyout offer from Binance.US. Separately, an attorney with the U.S. Department of Justice proposes Sam Bankman-Fried’s bail conditions should restrict his use of the internet, including the use of a non-internet-connected flip phone, in court filings late Friday.See also:Voyager Denies SEC Claims VGX Token Is a Security as Binance.US Decision LoomsVoyager Digital's Reward Program Lost $58M in 2022: Court FilingVoyager Bankruptcy Judge Says He Is ‘Absolutely Shocked’ by SEC Objection to Binance.US DealVoyager Bankruptcy Judge Says He Is ‘Absolutely Shocked’ by SEC Objection to Binance.US DealBankman-Fried Should Have Only Flip Phone, Website Whitelist, DOJ Says-This episode has been edited by Ryan Huntington. The senior producer is Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.”-Are you building the next big thing in Web3? Apply to pitch your project live on stage at the CoinDesk Pitchfest Powered by Google Cloud at Consensus, the industry’s most influential event happening April 26-28 in Austin, Texas. Apply by March 31 for a chance to be among the twelve finalists selected to pitch. Visit consensus.coindesk.com/pitchfest for more information.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacydo-not-sell-my-info.
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