The trial of Sam Bankman-Fried is in its final stages as the prosecution prepares to conclude its case on October 26. The central argument revolves around Bankman-Fried’s alleged deception leading to an $8 billion gap between FTX and Alameda Research in November 2022.
Sam Bankman-Fried’s trial is rapidly approaching its conclusion, with the prosecution expected to wrap up its case on October 26. Over the past three weeks, a series of witnesses, including former FTX employees, customers, investors, government officials, and law enforcement agents, have been called to testify.
The crux of the case centers on the assertion that Bankman-Fried intentionally deceived this array of individuals and played a pivotal role in the decisions that resulted in an $8 billion disparity between FTX and Alameda Research in November 2022.
As for Bankman-Fried’s defense, it remains uncertain whether they will present their case. In criminal trials, attorneys are not obligated to provide a defense. Should they proceed, the defense’s presentation is expected to commence on the same day, October 26.
Bankman-Fried’s legal team, led by Mark Cohen and Christian Everdell, has encountered challenges in crafting a persuasive narrative for the jury. During cross-examinations of his former close associates, including Caroline Ellison, Nishad Singh, Adam Yedidia, and Gary Wang, crucial arguments were missed. These individuals, cooperating with the government, have accused Bankman-Fried of directing them to commit unlawful acts.
An attorney observing the trial emphasized the significant challenge faced by the defense, as government-initiated cases have a 95% likelihood of indictment, although the burden of proving the alleged crimes rests with the prosecution.