Sam Bankman-Fried Fights to Block Witness Testimonies in High-Profile Fraud Trial – Coinpedia Fintech News

Former FTX CEO Sam Bankman-Fried is striving to block witness testimonies in his upcoming fraud trial. With the trial set to kick off on October 3, the crypto community hangs on every development. A central piece of this unfolding legal drama is a letter penned by Mark Cohen, Bankman-Fried’s attorney, to Judge Kaplan.

Prosecutors argue that Bankman-Fried deceived customers regarding the safety of their assets while using a “risk engine” to manipulate markets. The engine purportedly channeled funds into his hedge fund, Alameda Research. Notably, the prosecution claims that coded language was used for secretive communications with co-conspirators, some of whom have chosen to cooperate with authorities.

Controversial Legal Tactics: Exclusion of Witnesses

Sam Bankman-Fried’s lawyer, Mark Cohen, has filed a motion to exclude several witnesses from testifying. These include former FTX investors, insiders, and a Ukrainian customer who suffered immense financial loss due to activities on the FTX platform.

This letter argues for the exclusion of several witnesses. It takes a shot at challenging the U.S. government’s methods in gathering testimonies, especially those that could unduly influence the jury’s sentiment.

International Tangles: Remote Testimony Debate

SBF’s Counsel also challenges the government’s request to allow a Ukrainian national to testify remotely. He argues that this would violate Bankman-Fried’s rights under the Sixth Amendment.

Cohen invokes Federal Rules of Evidence 402 and 403 to argue that the proposed remote testimony should be excluded as it would be irrelevant and highly prejudicial. He asserts that the emotional hardship experienced by the Ukrainian customer due to the ongoing war in Ukraine would only inflame the jury’s emotions rather than contribute to the facts of the case.

If convicted, Bankman-Fried could face imprisonment for over a century. Beyond this, the case might serve as a landmark in how cryptocurrency fraud is approached legally. Bankman-Fried also awaits another trial scheduled for March 2024 related to the alleged bribery of Chinese officials.

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