Posted on Oct 14, 2023
Criminal mastermind or hapless dude? A look into Sam Bankman-Fried's trial so far
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https://www.npr.org/2023/10/14/ [login to see] /criminal-mastermind-hapless-dude-sam-bankman-fried-trial-ftx
The U.S. government says disgraced cryptocurrency mogul Sam Bankman-Fried committed one of the largest financial frauds in history. His defense lawyers, however, argue he was just a young guy who got in over his head.
Two weeks into the high-profile criminal trial of the former CEO of cryptocurrency exchange FTX, jurors have already heard opening arguments as well as testimony from the prosecution's star witness, Caroline Ellison, a former top executive in Bankman-Fried's crypto empire and his ex-girlfriend.
Here are five big takeaways from the trial so far.
The U.S. government says disgraced cryptocurrency mogul Sam Bankman-Fried committed one of the largest financial frauds in history. His defense lawyers, however, argue he was just a young guy who got in over his head.
Two weeks into the high-profile criminal trial of the former CEO of cryptocurrency exchange FTX, jurors have already heard opening arguments as well as testimony from the prosecution's star witness, Caroline Ellison, a former top executive in Bankman-Fried's crypto empire and his ex-girlfriend.
Here are five big takeaways from the trial so far.
Criminal mastermind or hapless dude? A look into Sam Bankman-Fried's trial so far
Posted from npr.org
Fraud
Crime
Investing
Posted 7 mo ago
Responses: 4
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PO1 William "Chip" Nagel good day Brother William, always informational and of the most interesting. Thanks for sharing, have a blessed day!
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PO1 William "Chip" Nagel
SFC Joe S. Davis Jr., MSM, DSL I think this Young Con Artist going to Take the Big Fall!
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PO1 William "Chip" Nagel
..."A question looms as the trial continues
Will Bankman-Fried testify? That's the big question.
Before the trial started, Kaplan addressed Bankman-Fried directly to inform him that he has the right to take the stand in his own defense, even if his lawyers advise him not to do that.
That would be risky, according to lawyer Joshua Naftalis, who used to be a federal prosecutor.
"In the average white-collar case, most defendants don't testify," he says.
But Naftalis adds that it may make sense for Bankman-Fried, if he's able to convince jurors that he truly had no intent to commit any crimes.
Bankman-Fried has previously shown himself to be inclined to talk.
After he was placed under house arrest at his parents' home in Northern California, Bankman-Fried mounted a defense in the court of public opinion.
He started an email newsletter on Substack; posted on X, formerly known as Twitter; and sat for countless interviews with reporters. When prosecutors asked for the judge to throw out his bail agreement, they noted that Bankman-Fried had more than 1,000 phone calls with journalists."
..."A question looms as the trial continues
Will Bankman-Fried testify? That's the big question.
Before the trial started, Kaplan addressed Bankman-Fried directly to inform him that he has the right to take the stand in his own defense, even if his lawyers advise him not to do that.
That would be risky, according to lawyer Joshua Naftalis, who used to be a federal prosecutor.
"In the average white-collar case, most defendants don't testify," he says.
But Naftalis adds that it may make sense for Bankman-Fried, if he's able to convince jurors that he truly had no intent to commit any crimes.
Bankman-Fried has previously shown himself to be inclined to talk.
After he was placed under house arrest at his parents' home in Northern California, Bankman-Fried mounted a defense in the court of public opinion.
He started an email newsletter on Substack; posted on X, formerly known as Twitter; and sat for countless interviews with reporters. When prosecutors asked for the judge to throw out his bail agreement, they noted that Bankman-Fried had more than 1,000 phone calls with journalists."
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