The federal government introduced its rebuttal in opposition to Sam Bankman-Fried on Nov. 2 in response to statements made by his protection throughout the closing arguments a day earlier.
A jury of 12 will obtain ultimate directions within the Southern District Court docket of Manhattan on Nov. 2. The jury will obtain pizza and transportation if their verdict comes after courtroom hours, in keeping with District Court docket Lewis Kaplan.
Because the trial of @SBF_FTX attracts close to its conclusion, the prosecution and protection lay down their ultimate arguments. https://t.co/csFJ5AAZxm
— Cointelegraph (@Cointelegraph) November 1, 2023
Talking on the courtroom, U.S. Assistant Lawyer Danielle Sassoon claimed prosecutors “met the burden” of proving that Bankman-Fried is responsible of seven counts of fraud and conspiracy to commit fraud.
In accordance with Sassoon, the previous FTX CEO gave prospects, buyers and the media the misunderstanding that belongings held at FTX had been protected and that Alameda Analysis had no involvement with the funds.
Sassoon pointed to Bankman-Fried’s tweets and public statements made within the months and weeks earlier than FTX’s collapse, together with claims that prospects’ funds had been held in segregated accounts when, in actuality, they had been being utilized by Alameda Analysis.
Sassoon additionally refuted the protection’s argument that Bankman-Fried made public appearances within the media after FTX’s collapse, claiming his interviews and tweets used to make him look dependable at a time his alternate wasn’t capable of pay again its prospects.
“He didn’t wish to be a felony on the run,” she famous, including that Bankman-Fried had the ambition to be president of the USA. “He lied to get prospects’ belief.”
The prosecution went over spreadsheets to refute claims that Bankman-Fried did not find out about Alameda’s multi-billion-dollar line of credit score and reimbursement of lenders with buyer funds, including that Bankman-Fried thought buyer funds had been his “piggy financial institution.”
In accordance with Sassoon, the protection’s assertion that the federal government painted Bankman-Fried as a monster throughout closing arguments the day earlier than was “determined.”
“They had been appearing on the defendant’s path,” Sassoon mentioned about Caroline Ellison, Gary Wang and Nishad Singh.
Bankman-Fried’s former inside circle cooperated with the federal government and testified within the case. Throughout closing arguments, protection attorneys tried to disqualify their testimony, claiming it was made underneath a strict cooperation settlement with federal prosecutors.
The protection, in keeping with Sassoon, wished the jurors to imagine that Bankman-Fried was clueless about what was happening with Alameda and FTX. “It is absurd,” mentioned the U.S. legal professional, claiming the protection’s claims contradicted the proof.
Associated: Sam Bankman-Fried ‘doubled down’ by shopping for Binance’s stake in FTX — US prosecutors
The FTX technique, Sassoon mentioned, was to not rent a threat officer to make sure no one discovered about deleted messages and embezzlement.
“He knew what he was doing was mistaken; that’s why he by no means employed a threat officer,” she instructed the jury.
