Lawyers for Sam Bankman-Fried late Wednesday revealed details of his planned testimony if he takes the witness stand at his FTX fraud trial.
But in his letter Wednesday evening, Cohen wrote,"Accordingly, should Mr. Bankman-Fried decide to testify in his defense, he should be permitted to testify as to his understanding of industry practices regarding use of omnibus wallets to show his good faith and lack of criminal intent."that Bankman-Fried's lawyers could not make a so-called advice of counsel argument in their opening remarks since it might risk prejudicing the jury.
The government similarly asserted in its opening argument before the jury that the 30-day auto-deletion policy on Signal was because Bankman-Fried"didn't want a paper trail for his crimes." But attorneys for Bankman-Fried allege that SBF's"understanding as to the involvement of counsel in the formation" of these accounts and in the payment arrangement established between FTX and Alameda would be"directly relevant" to the defendant's"good faith belief that there was nothing improper about using Alameda-controlled entities to accept FTX customer deposits.
Feds further allege that SBF prioritized paying certain creditors, including Bahamian authorities. In its pretrial motion, the government pointed to Bankman-Fried's"criminal intent," as well as the"false nature of his representations" that he wanted to"do right by customers."
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: NBCLA - 🏆 319. / 59 Read more »
Source: FoxBusiness - 🏆 458. / 53 Read more »
Source: dcexaminer - 🏆 6. / 94 Read more »
Source: RollingStone - 🏆 483. / 51 Read more »
Source: thedailybeast - 🏆 307. / 63 Read more »