On Nov. 2, Jury deliberation began in United States v Bankman-Fried over fraud allegations, conspiracy, and money laundering charges linked to FTX and Alameda’s collapse.
The criminal trial for Sam Bankman-Fried over the multi-billion dollar collapse of FTX reached its climax on Nov. 2 following closing statements from prosecutors and the defense.
Bankman-Fried’s defenders offered arguments presenting the FTX founder as merely human and therefore challenging the government’s case which alleges purposeful fraud and criminal intent.
Conversely, federal attorneys said the defendant arrived at several crossroads where he could have come clean and told the public the truth, but chose to risk it all following the two companies filing for bankruptcy.
Defense attorneys claimed witnesses Caroline Ellison, Gary Wang and Nishad Singh only testified to save themselves from severe prosecution. Former executives were never whistleblowers while FTX and Alameda operated because there was no law-breaking, according to Mark Cohen and the defense.
Prosecutors countered by painting FTX’s founder as a dictator who chose impressionable deputies and influenced all significant decisions. Federal lawyers asked the jury to consider Bankman-Fried’s demeanor on the stand against witnesses like Ellison, Wang and Singh, who allegedly yielded consistent answers throughout their testimonies.
Bankman-Fried’s legal team said the former FTX boss never checked the code bug or accessed the exchange’s AWS database. Government attorneys responded with Bankman-Fried’s M
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Author: Naga Avan-Nomayo
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