BTC-Newswire

SBF trial day 13: FTX founder claims ignorance in mock testimony

Press Releases Crypto News Crypto-News SBF trial day 13: FTX founder claims ignorance in mock testimony

United States v Sam Bankman-Fried continued its fourth week at trial with testimony from the FTX founder himself however, Judge Kaplan excused the jury until Oct. 27 to thrash out details of the defendants’ statements.

What has been described by some as America’s largest crypto fraud case could come to a close by early November 2023, with FTX founder Sam Bankman-Fried testifying in his criminal trial for fraud on Oct. 26 per InnerCityPress.

Bankman-Fried is one of four witnesses, and his testimony is expected to form the lion’s share of the defense’s bid to challenge arguments claiming that FTX’s former CEO broke federal financial laws.

Defense attorneys moved for a motion to dismiss the case, arguing a deficit of evidence that proves fraud and money laundering. The FTX founder is notably on trial for seven counts of these charges.

Judge Kaplan denied the motion after federal prosecutors cited testimony from BlockFi CEO Zac Prince and alleged fraudulent transactions exposed by previous witnesses.

SBF’s lawyer: Two witnesses – and then Mr. Bankman-Fried. The first two should be 15 minutes each.
Judge Kaplan: I received the relatively lengthy defense letter.
SBF’s lawyer: I think Mr. Bankman-Fried’s testimony will take about four hours before those issues

— Inner City Press (@innercitypress) October 26, 2023

Final government witnesses

FBI agent Mark Troyano said Bankman-Fried was part of over 300 Signal group chats during his time leading crypto trading firm Alameda Research and FTX, his crypto exchange. The auto-delete function was active on at least 280 of these internal chat rooms according to the witness.

Ex-Alameda CEO Caroline Ellison claimed Bankman

Go to Source to See Full Article
Author: Naga Avan-Nomayo

Did you like this?
Tip BTC Newswire with Cryptocurrency