Legal professionals presently representing Sam Bankman-Fried, or SBF, for his prison case in the USA plan to elicit proof the previous CEO acted “in good religion” on recommendation of earlier counsel in regard to his alleged actions at FTX and Alameda Analysis.
In an Aug. 23 submitting within the U.S. District Courtroom for the Southern District of New York, SBF’s authorized staff mentioned Fenwick & West, the legislation agency that previously represented cryptocurrency alternate FTX, supplied sure authorized recommendation to the agency of which Bankman-Fried had been conscious. In line with legal professionals, Fenwick & West suggested FTX on its knowledge retention insurance policies, buyer agreements, phrases of providers, and agreements between the alternate and Alameda.
“The protection intends to elicit proof that Mr. Bankman-Fried was conscious that Fenwick legal professionals in addition to in-house counsel for FTX, together with Dan Friedberg, Can Solar, Ryne Miller, and others, had been concerned in reviewing and approving selections associated to those issues and others, which gave him assurance that he was appearing in good religion,” mentioned the submitting. “Proof of the defendant’s reliance on counsel is related to the query of intent and isn’t restricted to conditions the place the protection can set up that the defendant formally sought out the recommendation of counsel, obtained authorized recommendation, and adopted the recommendation given.”
The protection, if accepted by a court docket, appeared to be geared toward offering some authorized cowl for SBF’s alleged actions resulting in his prison case, together with directing that sure Slack and Sign communications between FTX and Alameda staff would mechanically be deleted beginning in 2021. SBF’s legal professionals had beforehand petitioned a choose to permit them to subpoena paperwork from Fenwick & West for his or her protection technique, a movement that was denied in June.
“Mr. Bankman-Fried’s consciousness that counsel was concerned within the issues listed above and others is related to rebut the Authorities’s declare that Mr. Bankman-Fried acted with prison intent to defraud.”
Associated: FTX’s former legislation agency hit with lawsuit alleging it arrange shadowy entities
The case in opposition to Bankman-Fried is centered across the former FTX CEO allegedly misappropriating consumer funds for investments, private bills and donations to political campaigns. He faces 12 prison counts, which shall be unfold throughout two trials beginning in October 2023 and March 2024, and has pleaded not responsible to all costs.
Bankman-Fried had been free on $250 million bail following his extradition from the Bahamas and arraignment within the U.S. in December 2022. Nevertheless, on Aug. 11, a federal choose revoked his bail, inflicting him to be despatched to the Metropolitan Detention Middle in Brooklyn following allegations of witness intimidation. At an Aug. 22 listening to, SBF’s legal professionals claimed he had been surviving in jail largely on bread, peanut butter and water as a result of lack of vegan meal choices.
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