Sam “SBF” Bankman-Fried, the former CEO of FTX, is set to testify as part of his defense case, according to his attorney Mark Cohen. The announcement came during a telephone conference on October 25 between SBF’s legal team, prosecutors, and Judge Lewis Kaplan. Cohen stated that after the prosecution finishes presenting its case on October 26, the defense plans to call three witnesses in addition to Bankman-Fried. Judge Kaplan agreed to allow the case to proceed without interruption, moving directly from the prosecution’s final witness to the defense’s first witness.
Cohen mentioned that the defense does not anticipate the questioning of the three potential witnesses, including a lawyer based in the Bahamas, Joseph Pimbley from litigation consulting firm PF2 Securities, and an individual who will testify about the titles and responsibilities of former FTX employees, to take more than three days. Judge Kaplan estimated that the defense case could last “perhaps an hour,” excluding Bankman-Fried’s testimony.
The United States government is expected to conclude its case against Bankman-Fried on the morning of October 26, with the defense attorneys likely finishing their presentation the following day. Prosecutors have expressed uncertainty about the need for rebuttal witnesses, depending on Bankman-Fried’s testimony. Closing arguments could be held before October 31.
During the conference, Judge Kaplan also raised the possibility of pursuing a special verdict in the case. A special verdict is one in which “the jury provides its findings on factual issues in the case, without necessarily stating which party should win,” according to Cornell Law School’s Legal Information Institute.
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Assistant U.S. Attorney Nicolas Roos provided insight into the government’s position, stating that the single substantive wire fraud count against Bankman-Fried alleges that he made false representations and violated the trust relationship with depositors. Roos suggested that the false representations created a sense of trust and confidence among the victims of the alleged crimes.
Bankman-Fried’s potential testimony would follow statements from former FTX and Alameda executives, including Caroline Ellison, Gary Wang, and Nishad Singh. These individuals admitted to committing crimes on the stand, often under Bankman-Fried’s direction. The criminal case alleges that Bankman-Fried was responsible for Alameda using FTX funds from customers without their knowledge.
It remains unclear what information Bankman-Fried could provide to the jury that would counter the narrative presented by the other witnesses thus far. The trial had been on hiatus since October 19 but is expected to resume on October 26.
In conclusion, Sam “SBF” Bankman-Fried is set to testify as part of his defense case in the ongoing legal proceedings against him. The defense plans to call three additional witnesses, and Judge Kaplan has allowed the case to proceed smoothly. The trial is expected to conclude soon, and the jury will then have to determine the outcome based on the evidence presented.
