The Department of Justice (DOJ) has confirmed its intention to call former FTX clients, investors and staff as witnesses in the upcoming trial involving Sam Bankman-Fried, the former CEO of FTX.
The Department of Justice sent a movement of letters in limina on September 30 describing the witnesses it intends to call regarding FTX's treatment of client assets.
The testimonies are intended to provide insights into the interactions between the accused and the witnesses. It also aims to make witnesses understand Bankman-Fried's comments and conduct, particularly as it relates to FTX's asset management. The DOJ intends to highlight the experiences of retail and institutional clients who entrusted substantial assets to FTX, believing that the platform would safely safeguard them.
Furthermore, a situation has arisen arose about one of the Justice Department's witnesses, "FTX Customer-1", who resides in Ukraine. Given the ongoing conflict in Ukraine, traveling to the United States to testify is associated with difficulties. The Department of Justice has suggested using video conferencing as a viable alternative. However, Bankman-Fried's defense has not yet approved this proposal.
However, the legal team representing Bankman-Fried, led by attorney Mark Cohen, has expressed concern about the jury's questions filed by the DOJ. According to Bankman-Fried's defense, these interrogations imply guilt on Bankman-Fried's part, potentially undermining the principle of "innocent until proven guilty."
Related: Sam Bankman-Fried's lawyer questions US government's proposed jury questions
Additionally, the defense maintains that these investigations may not effectively uncover jurors' inherent biases, especially related to their encounters with cryptocurrencies. Additionally, specific questions could inadvertently guide the jury's perspective rather than elicit authentic insights, possibly compromising the fairness of the trial.
With jury selection scheduled to begin Oct. 3, closely followed by the trial, attention is focused on this high-stakes legal showdown.
Magazine: Deposit Risk: What Do Crypto Exchanges Really Do With Your Money?
Post navigation
