Attorneys representing former FTX CEO Sam Bankman-Fried have written one other letter to the presiding decide, looking for adjustments to the jury directions. Within the letter addressed to Decide Lewis Kaplan, the protection attorneys requested that the jury contemplate the position of English regulation in governing FTX’s phrases of service.
The proposal calls on the 12 jurors within the case to contemplate that for misappropriation to have occurred, there should have existed a belief, fiduciary relationship or an analogous relationship between FTX and its prospects. Nevertheless, the agency’s phrases of service have clarified that there was no relationship between the 2 events.
The protection attorneys’ proposal learn:
“Below English regulation, the Phrases of Service don’t create a belief relationship or related fiduciary relationship between FTX and its prospects. Nor, underneath English regulation, do any representations made after a buyer agreed to the Phrases of Service create a belief relationship or related fiduciary relationship.“
They added, “If an individual subjectively anticipated, understood or believed {that a} belief, fiduciary relationship, or related relationship existed, doesn’t create such a relationship.“
The protection group cited a number of examples of different instances from the UK in a final bid for a not-guilty verdict for his or her consumer.
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Bankman-Fried’s attorneys have made a number of requests to the decide all through the course of the case, together with quite a few requests for early bail earlier than the trial, citing a scarcity of ample facilities to arrange. Nevertheless, most requests have been declined.
The previous FTX CEO is at present dealing with a number of prices of fraud and misappropriation of buyer funds to finance his private bills. Bankman-Fried, all through his trial, has denied misuse of funds and claimed he hasn’t defrauded his prospects. Prior to now, Bankman-Fried was additionally accused of witness tampering.
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