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Sam Bankman-Fried Trial: DOJ To Summon FTX Clients And Investors As Witnesses

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The United States Department of Justice (DOJ) has confirmed its plans to call former FTX customers, investors, and staff as witnesses in the forthcoming trial of Sam Bankman-Fried (SBF), the co-founder of the now-defunct FTX exchange. The former FTX boss faces a statutory maximum of 110 years of jail time if found guilty of the seven counts of alleged fraud-related offenses.

FTX Clients And Investors To Testify Against Sam Bankman-Fried

On Saturday, September 30, the DOJ submitted a letter motion “in limine” describing the witnesses it plans to summon during the trial of Sam Bankman-Fried. According to the court document, the government intends to call FTX customers who deposited funds on the platform, FTX investors who purchased shares in the crypto company, and certain “cooperating witnesses” who have pleaded guilty to conspiring to commit fraud with the defendant.

The DOJ added in the letter:

In each of these cases, the anticipated testimony about how the witnesses understood their relationship with the defendant and his companies, and their interpretation of statements made by the defendant and his agents, is directly relevant to the issues in dispute at trial, and is probative of how reasonable persons would have interpreted and understood representations made by the defendant regarding FTX’s treatment of customer assets and other issues.

It is worth noting that the letter did not identify any potential witnesses or mention the number of witnesses the government intends to summon. However, the prosecution did suggest – in a second letter – that witnesses are likely to testify for less than 30 minutes each and will involve “minimal, if any, exhibits.”

A few members of the FTX team, including the Chief Technology Officer and head of Engineering, have pleaded guilty to some fraud-related charges and are expected to testify in the trial of Sam Bankman-Fried. Although another top FTX executive,

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Author: Opeyemi Sule

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