As Sam Bankman-Fried’s trial approaches its closing innings, the query of how he’ll mount his protection hangs over the proceedings.
On Thursday, prosecutors will end their case in opposition to Bankman-Fried — which incorporates seven costs associated to fraud and cash laundering — and the defendant’s workforce will probably be given the chance to make a case.
Throughout a teleconference on Wednesday, Mark Cohen, Bankman-Fried’s lead legal professional, mentioned that the protection has three potential witnesses. He additionally mentioned, “Our shopper will probably be testifying.”
Cohen mentioned he expects Bankman-Fried’s testimony to be the identical size as that of his former colleagues, who pleaded responsible: FTX co-founder and CTO Gary Wang, Alameda CEO Caroline Ellison, and FTX head of engineering Nishad Singh. He additionally mentioned that it’ll take a “good a part of Thursday, possibly all of Thursday,” with potential for Friday cross-examination.
Assistant U.S. attorneys Nicolas Roos mentioned if the defendant testifies, which Cohen indicated he’s, and relying on what Bankman-Fried says, a Monday closing for the trial “could now not be lifelike.”
“We’re within the final innings, and, to change metaphors, that is his Hail Mary,” mentioned Josh Naftalis, a former federal prosecutor who’s now a accomplice at Pallas Companions. He predicted earlier this week on TechCrunch’s Chain Reaction podcast that Bankman-Fried would testify.
Whereas he was working within the Southern District of New York, Naftalis secured convictions in each federal felony trial that he led as an assistant U.S. legal professional. Primarily based on that have, Naftalis mentioned that Bankman-Fried is up in opposition to robust proof, three cooperating witnesses and particulars of how billions of {dollars} flowed by means of firms he managed. “That is his alternative to say, ‘I didn’t intend to do something mistaken. I didn’t act in unhealthy religion. I used to be appearing in good religion, issues simply obtained uncontrolled,’ and it’s actually onerous for any defendant to elucidate to a jury what’s in his head until they take a stand,” Naftalis mentioned.