DOJ prepares witnesses in Bankman-Fried trial, highlights FTX asset management
The Department of Justice (DOJ) has confirmed that it intends to call former FTX customers, investors and employees as witnesses in the upcoming trial of former FTX CEO Sam Bankman-Fried.
The DOJ filed a letter on September 30 describing the witnesses it intends to call regarding FTX's handling of client assets.
The witnesses are intended to provide views on the relationship between the accused and the witnesses. It also aims to gain witness insight into Bankman-Fried's opinions and behavior, particularly regarding FTX's asset management. DOJ intends to entrust the experience of retail and institutional clients to FTX, believing that the platform will protect them securely.
Additionally, a situation arose regarding one of the DOJ's witnesses, “FTX Customer-1”, who resides in Ukraine. In the ongoing conflict in Ukraine, traveling to the US to testify is fraught with difficulties. DOJ suggests using video conferencing as a viable option. However, the Bankman-Fried defense has not yet adopted this idea.
However, the legal team representing Banman-Fried, led by attorney Mark Cohen, expressed concerns about the jurisdictional requests made by the DOJ. According to Bankman-Fried's defense, these investigations could undermine the principle of “innocent until proven guilty” because they would lead to guilt on the part of Bankman-Fried.
RELATED: Sam Bankman-Fried's lawyer challenges US government's subpoena.
Additionally, the defense argued that these questions may not have effectively exposed jurors' internal biases, particularly those related to cryptocurrencies. Additionally, certain questions may inadvertently guide jurors' perspectives rather than elicit accurate perceptions, possibly compromising the impartiality of the trial.
With jury selection scheduled to begin on October 3, closely followed by the trial, the focus is on this high-profile legal battle.
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