Sam Bankman-Fried (SBF) took the stand again on Oct. 27 — this time in front of a jury — and told the courtroom that he had been blindsided by the $8 billion shortfall that led to FTX and Alameda Research’s collapse.
The former billionaire testified and went through a thorough cross-examination on Oct. 26 without a jury present after the government raised concerns about certain aspects of SBF’s testimony.
However, Judge Lewis Kaplan ruled that SBF’s testimony could be heard live by the jury, and the process will now repeat in front of them.
Almost the entirety of the day was dedicated to SBF’s testimony, which gave the courtroom further insights into the inner workings of FTX and Alameda from his perspective. He is expected to continue testifying for the first half of the proceedings on Oct. 30.
Lawyers’ concerns
The day commenced with Judge Kaplan addressing concerns raised by the prosecution, specifically referring to disruptions in the gallery during the trial.
The judge firmly cautioned that any further disturbances would result in the removal of the individuals responsible. Additionally, the prosecution requested an instruction to the jury, emphasizing that any perceived impoliteness should not affect their judgment.
The first order of business when the trial resumed was the defense team’s request for a standing objection to the use of statements made during the previous day’s cross-examination.
Judge Kaplan noted the potential for misleading impressions arising from these statements but ultimately allowed them to be used as evidence. He inform
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Author: Assad Jafri
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