As Sam Bankman-Fried’s trial approaches its ultimate innings, the query of how he’ll mount his protection hangs over the proceedings.
On Thursday, prosecutors will end their case towards Bankman-Fried — which incorporates seven fees associated to fraud and cash laundering — and the defendant’s staff might be given the alternative to make a case.
During a teleconference on Wednesday, Mark Cohen, Bankman-Fried’s lead lawyer, stated that the protection has three potential witnesses. He additionally stated, “Our client will be testifying.”
Cohen stated he expects Bankman-Fried’s testimony to be the similar 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 stated that it’s going to take a “good part of Thursday, maybe all of Thursday,” with potential for Friday cross-examination.
Assistant U.S. attorneys Nicolas Roos stated if the defendant testifies, which Cohen indicated he’s, and relying on what Bankman-Fried says, a Monday closing for the trial “may no longer be realistic.”
“We’re in the last innings, and, to switch metaphors, this is his Hail Mary,” stated Josh Naftalis, a former federal prosecutor who’s now a companion at Pallas Partners. He predicted earlier this week on Ztoog’s Chain Reaction podcast that Bankman-Fried would testify.
While he was working in the Southern District of New York, Naftalis secured convictions in each federal felony trial that he led as an assistant U.S. lawyer. Based on that have, Naftalis stated that Bankman-Fried is up towards sturdy proof, three cooperating witnesses and particulars of how billions of {dollars} flowed via companies he managed. “This is his opportunity to say, ‘I didn’t intend to do anything wrong. I didn’t act in bad faith. I was acting in good faith, things just got out of control,’ and it’s really hard for any defendant to explain to a jury what’s in his head unless they take a stand,” Naftalis stated.