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Sam Bankman-Fried’s Lawyers Are Doing Just Fine

Wired · 2y ago

Sam Bankman-Fried’s Lawyers Are Doing Just Fine

The trial of Sam Bankman-Fried, founder of crypto exchange FTX, is underway, with numerous witnesses testifying to his greed and reckless behavior. Bankman-Fried is charged with fraud in connection with the collapse of FTX, where billions of dollars in user funds went missing. His defense lawyers have been criticized for their performance thus far, but legal experts argue that they have been dealt a challenging hand. The defense strategy aims to undermine the credibility of key witnesses and deflect blame onto other members of Bankman-Fried's inner circle. Despite facing cooperating witnesses, the defense's objective is to introduce facts that support their strategy and sow doubt in the minds of the jurors.

Related News

Sam Bankman-Fried’s downfall is complete

Livemint

Livemint · 1y ago

Sam Bankman-Fried’s downfall is complete

Sam Bankman-Fried, founder of cryptocurrency exchange FTX, has been convicted on multiple charges of financial fraud, including defrauding customers and lenders, securities fraud, commodities fraud, and money laundering. The trial revealed evidence of FTX's collapse in 2022, with customer funds being misused and withdrawn for personal and venture investments. Former FTX insiders testified against Bankman-Fried, detailing the excessive spending and borrowing that contributed to the downfall of the exchange. Bankman-Fried now faces a maximum sentence of 110 years in jail.

Sam Bankman-Fried's lawyers say prosecutors are treating their client like a 'depraved super-villain' with 'dark and megalomaniacal motives'

Business Insider

Business Insider · 1y ago

Sam Bankman-Fried's lawyers say prosecutors are treating their client like a 'depraved super-villain' with 'dark and megalomaniacal motives'

Lawyers for Sam Bankman-Fried, the founder of FTX, are challenging the 40 to 50-year prison sentence recommended by prosecutors, accusing them of portraying him as a villain with sinister motives. In their letter to the judge, his lawyers argued that the proposed sentence was excessive and a medieval form of punishment. Prosecutors have justified the sentence by citing the significant financial and emotional harm caused by Bankman-Fried's crimes, which resulted in billions of dollars in losses. This is not the first time his lawyers have requested leniency. Bankman-Fried's sentencing is scheduled for March 28.

Bread, water and peanut butter: Sam Bankman-Fried's life in jail

Economic Times

Economic Times · 2y ago

Bread, water and peanut butter: Sam Bankman-Fried's life in jail

Cryptocurrency mogul Sam Bankman-Fried, facing a fraud trial related to the collapse of his crypto exchange FTX, has spent nearly a month in the Metropolitan Detention Center in Brooklyn. His lawyers have raised concerns about conditions in jail, including disruptions to his vegan diet, dwindling medication supplies, and limited access to the internet. They argue that these conditions are impeding his ability to prepare for trial. The judge overseeing the case is yet to decide on these issues, while Bankman-Fried's lawyers seek to reinstate his bail.

Binance CEO Zhao faces sentencing over money laundering violations

Economic Times

Economic Times · 1y ago

Binance CEO Zhao faces sentencing over money laundering violations

The former CEO of Binance, Changpeng Zhao, may face an extended prison sentence for violating US money-laundering laws. US prosecutors are seeking a sentence double the recommended time. This tough stance aims to send a message that compliance with the law is essential. Zhao's lawyers have requested probation, stating his acceptance of responsibility and payment of a $50 million fine. This case follows the recent imprisonment of FTX CEO Sam Bankman-Fried. Several high-profile figures in the crypto industry are under scrutiny as the industry faces increased regulation and scrutiny after recent price collapses.

Sam Bankman-Fried needs more Adderall to focus at trial, lawyers say

Economic Times

Economic Times · 2y ago

Sam Bankman-Fried needs more Adderall to focus at trial, lawyers say

Sam Bankman-Fried, the founder of FTX cryptocurrency exchange, is facing issues with concentration during his trial on charges of stealing billions in FTX customer funds. His lawyers requested an extended release dose of Adderall, a medication for attention deficit hyperactivity disorder, to help him focus. Bankman-Fried has been typing on a laptop and whispering to his lawyers during the trial, and his legal team expressed concerns about his ability to concentrate, especially as he considers testifying in his own defense. Prosecutors may rest their case soon, with Bankman-Fried pleading not guilty to the charges.

Sam Bankman-Fried lives 'life of delusion,' new FTX CEO says as sentencing looms

Economic Times

Economic Times · 1y ago

Sam Bankman-Fried lives 'life of delusion,' new FTX CEO says as sentencing looms

Sam Bankman-Fried's successor as CEO of FTX, John Ray, has dismissed Bankman-Fried's claims that customers may recover funds, stating that it does not mean he did not steal. Bankman-Fried was convicted of stealing $8 billion from FTX customers. Ray filed a statement in court stating that customers will recover some losses due to the bankruptcy estate's efforts, not because Bankman-Fried did not steal. Bankman-Fried is scheduled to be sentenced on March 28, with prosecutors seeking a 40- to 50-year prison term. Defense lawyers believe a lesser sentence is appropriate.

Sam Bankman-Fried says 63-78 months should guide sentencing for FTX fraud

Economic Times

Economic Times · 1y ago

Sam Bankman-Fried says 63-78 months should guide sentencing for FTX fraud

Lawyers representing Sam Bankman-Fried, the founder of FTX, have proposed a sentence of 63 to 78 months for his conviction of stealing $8 billion from customers of his defunct cryptocurrency exchange. The recommendation was made during a hearing before a U.S. judge.

Watch: Sam Bankman-Fried’s sentencing marks an end to the FTX saga

TechCrunch · 1y ago

Watch: Sam Bankman-Fried’s sentencing marks an end to the FTX saga

The former crypto baron, Sam Bankman-Fried, has been sentenced to up to 25 years in prison for his involvement in crimes within the cryptocurrency industry. While the lengthy sentence may not come as a surprise given the scale of his crimes, it marks the end of a chapter for the crypto industry. Despite the recent resurgence and excitement around cryptocurrencies, it is important to reflect on how someone once considered a venture and political ally has now ended up being convicted and imprisoned.

FTX's Sam Bankman-Fried appeals jailing as trial nears

Economic Times

Economic Times · 2y ago

FTX's Sam Bankman-Fried appeals jailing as trial nears

Sam Bankman-Fried, founder of FTX cryptocurrency exchange, has appealed a decision to jail him for alleged witness tampering ahead of his trial over the collapse of FTX. Bankman-Fried's lawyers argue that he exercised his First Amendment rights by sharing writings by his former colleague Caroline Ellison with a New York Times reporter to defend his reputation. Prosecutors claim he released the writings to harass Ellison and dissuade others from testifying. Bankman-Fried's bail was revoked on Aug. 11, and he faces charges of stealing billions of dollars in FTX customer funds.

Sam Bankman-Fried deserves 40-50 years in prison for FTX fraud, prosecutors say

Economic Times

Economic Times · 1y ago

Sam Bankman-Fried deserves 40-50 years in prison for FTX fraud, prosecutors say

Sam Bankman-Fried, the founder of FTX cryptocurrency exchange, has been convicted of stealing $8 billion from customers and could face up to 50 years in prison, according to prosecutors. The case highlights his greed, ambition, and repeated risk-taking with other people's money. Despite the conviction, Bankman-Fried remains defiant, refusing to admit any wrongdoing. His lawyers argue for a shorter prison term and claim that FTX clients will be compensated. Bankman-Fried is scheduled to be sentenced in March and plans to appeal the conviction and sentence.

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