FTX's former top lawyer aided US authorities in Bankman-Fried case

Several other former FTX executives have also engaged counsel to discuss their cooperation with prosecutors, two separate sources said.

Mr Friedberg's cooperation has not been previously reported. He has not been charged and has not been told he is under criminal investigation, the source said. Instead, he expects to be called as a government witness in Bankman-Fried's October trial, the person said. Manhattan US Attorney Damian Williams, who is leading the criminal case against now bankrupt FTX, said last month:"If you participated in misconduct at FTX or Alameda, now is the time to get ahead of it."

A few days later, on Nov 14, Mr Friedberg received a call from two FBI agents based in New York. He told them he was willing to share information but needed to ask FTX to waive his attorney-client privilege, according to a person familiar with the matter and emails viewed by Reuters. The US Attorney's Office set up a meeting where Mr Friedberg signed so-called proffer letters prepared for him by the SEC and other agencies, according to the source and an email exchanged by participants. Proffer letters typically describe a potential agreement between authorities and individuals who are witnesses or subjects of an investigation.Prior to his work advising FTX, Mr Friedberg advised a mix of banking, fintech, and online gaming companies.

Mr Friedberg first represented Bankman-Fried in 2017 as outside counsel while at US law firm Fenwick & West, where he chaired its payment systems group, the source familiar with the matter said. At the time, the source said Mr Friedberg advised Bankman-Fried on running Alameda, which he founded that year.

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