Sam Bankman-Fried’s trial is reaching its final stages over the next few days, with the prosecution scheduled to rest their case on Oct. 26 following the examination of almost 20 testimonies in the case.
The prosecution presented a lineup of witnesses over the past three weeks, including former FTX employees, customers, investors, government officials, and law enforcement agents. At the heart of the case is the central argument that Bankman-Fried intentionally deceived all of them and that he was behind the decisions resulting in the $8 billion gap between FTX and Alameda Research in November 2022.
As for Bankman-Fried’s defense, they still haven’t confirmed whether they will waive the case. In criminal trials, attorneys aren’t required to present a defense. Assuming his legal team will present a case, it will also begin on Oct. 26.
Bankman-Fried’s counsel, led by Mark Cohen and Christian Everdell, has struggled to present a narrative to jurors. The attorneys even missed crucial arguments during the cross-examination of his former closest friends, including Caroline Ellison, Nishad Singh, Adam Yedidia, and Gary Wang. Cooperating with the government, the group accused Bankman-Fried of directing them to commit crimes.
An attorney observing the trial told Cointelegraph that when a case is initiated by the government, there is a 95% likelihood of indictment, underscoring the significant challenge faced by the defense. Prosecutors, however, have the burden of proving the alleged crimes.
Related: Caroline Ellison wanted to step down but feared a bank run on FTX
Among the highlights of the previous week in court was the testimony of former FTX’s engineering director. Singh told jurors that Bankman-Fried instructed him to make millionaire venture investments via loans from Alameda. Acc
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Author: Ana Paula Pereira
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