NY - Samuel Bankman-Fried (FTX), Alleged Fraud, Money Laundering, 2019-2022 *Arrest*

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arielilane said:
So now it's IF he plans to testify? The other day, it was stated he would testify... what changed besides the MSM who reported the info. moo
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Nothing changed. It’s all about how the reader interprets the defense’s words. By issuing the letter, the defense is showing its intent to have its client take the stand. However, the letter does not obligate their client to take the stand. MOO.

Edit to add: His lawyer is saying that he will testify.

nypost.com

Sam Bankman-Fried trial live updates: Feds hint at mysterious ‘rebuttal witness’ before trial breaks for weekend

Fallen crypto titan Sam Bankman-Fried has just taken the stand at his criminal fraud trial in Manhattan federal court. On Thursday, a squirrely SBF tried to squirm his way out of answering question…
nypost.com nypost.com
 
www.dailymail.co.uk

Sam Bankman-Fried takes the stand to testify in his own defense

Sam Bankman-Fried took the stand to testify in his own defense at his fraud trial on Thursday but without the jury present.
www.dailymail.co.uk www.dailymail.co.uk
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Sam Bankman-Fried struggled to answer questions under a withering cross examination in which he became so nervous he snatched at a bottle of water.

The founder of failed crypto exchange FTX gave waffling and convoluted answers that prompted a remark from Judge Lewis Kaplan.

After an objection from Bankman-Fried's lawyers, the judge said: 'Part of the problem is that the witness has what I'll call an interesting way of responding to questions.'

Bankman-Fried suddenly reached for the bottle in the witness box while being interrogated by Assistant US Attorney Danielle Sassoon. She had asked him if he had any conversations with lawyers about whether Alameda Research, FTX's sister company, was allowed to spend FTX users' money.

There was a long pause then Bankman-Fried said he didn't recall 'any conversions that were contemporaneous and phrased that way.'

Bankman-Fried hurriedly reached for the water and took a sip as Sassoon asked him what exactly he did recall.

In a rambling answer he said: 'There were certainly conversations far later when we were trying to reconcile things in November 2022.'

He said: 'I wish that I had….I wish I had had conversations (and) I myself had more informed. I'm not sure if other people were involved in conversations.'
 
ifindedout said:
Sam Bankman-Fried struggled to answer questions under a withering cross examination in which he became so nervous he snatched at a bottle of water.

The founder of failed crypto exchange FTX gave waffling and convoluted answers that prompted a remark from Judge Lewis Kaplan.

After an objection from Bankman-Fried's lawyers, the judge said: 'Part of the problem is that the witness has what I'll call an interesting way of responding to questions.'

Bankman-Fried suddenly reached for the bottle in the witness box while being interrogated by Assistant US Attorney Danielle Sassoon. She had asked him if he had any conversations with lawyers about whether Alameda Research, FTX's sister company, was allowed to spend FTX users' money.

There was a long pause then Bankman-Fried said he didn't recall 'any conversions that were contemporaneous and phrased that way.'

Bankman-Fried hurriedly reached for the water and took a sip as Sassoon asked him what exactly he did recall.

In a rambling answer he said: 'There were certainly conversations far later when we were trying to reconcile things in November 2022.'

He said: 'I wish that I had….I wish I had had conversations (and) I myself had more informed. I'm not sure if other people were involved in conversations.'
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He sure sounds a lot like someone else I "know".
 
ifindedout said:
'...I wish I had had conversations (and) I myself had [been] more informed...'
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So, he's implying that, gosh, he just didn't know what was going on?

I wonder if SB-F's attorneys told him he would be *warning: mixed metaphors ahead* hammered by the prosecution and hung out to dry? Stick a fork in him, he's done.
 
Yesterday, SBF testified at a hearing to determine what lines of defense the judge will allow. The jury was not present. However, SBF could begin testifying in front of a jury as early as today.

Overall, the hearing seems to have gone poorly for SBF with the judge declaring that he felt “pretty dubious” about SBF’s lawyers’ arguments.

Further, see this quote.

Bankman-Fried’s circuitous approach to answering Sassoon’s questions appeared to annoy Judge Kaplan. “Listen to the question and answer the question directly,” he admonished Bankman-Fried at one point. At another juncture, he said to Cohen: “Part of the problem is that the witness has, what I'll simply call, an interesting way of responding to questions.”
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time.com

Sam Bankman-Fried Dodges Fierce Questioning in First Day on The Stand

The former FTX CEO took the stand for the first time in his criminal case, and attempted to deflect blame onto his lawyers.
time.com time.com
 
Last edited:
FTX founder Sam Bankman-Fried testifies outside jury's presence as judge decides what he can say | Click on the image to read the full story
https://t.co/Pv9ZW68O73

https://twitter.com/x/status/1717881088448544865


www.wcvb.com

FTX founder Sam Bankman-Fried acknowledges in court that customers were hurt but denies fraud

Sam Bankman-Fried has pleaded not guilty to conspiracy charges accusing him of diverting billions of dollars from his clients and investors to make risky investments.
www.wcvb.com www.wcvb.com

NEW YORK —
FTX founder Sam Bankman-Fried testified at his New York trial on Friday, denying that he defrauded anyone but acknowledging that the innovative business he had hoped would move the cryptocurrency ecosystem forward ended up hurting customers instead.

The onetime cryptocurrency golden boy lost his businesses and his reputation as a pioneering entrepreneur in an emerging facet of finance when a rush of customers withdrew their money last year, exposing that billions of dollars were missing.

www.wcvb.com

FTX founder Sam Bankman-Fried acknowledges in court that customers were hurt but denies fraud

Sam Bankman-Fried has pleaded not guilty to conspiracy charges accusing him of diverting billions of dollars from his clients and investors to make risky investments.
www.wcvb.com www.wcvb.com
 
arielilane said:
The video is two + minutes.


Sam Bankman-Fried takes the stand​


CNBC's Kate Rooney joins 'Squawk on the Street' to report on the latest in the criminal fraud trial of Sam Bankman-Fried.
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Jim Cramer: "Judge Kaplan's probably the most distinguished jurist in Southern District, also known as the toughest jurist, he's not overturned....Sam Bankman-Fried is the Panthers, and Judge Kaplan is the Chiefs." lol
 
From Bloomberg's liveblog on today's cross-examination of SBF:

Thank you for joining us. We’re going to take an extended pause and resume our coverage of the trial Tuesday morning. In the meantime, here are the key takeaways from Sam Bankman-Fried’s third day on the witness stand:
  • The prosecution showed the jury emails, tweets, interviews, press releases and congressional testimony in which FTX and Bankman-Fried assured investors that the exchange was safe and that Alameda played by the same rules as others. Assistant US Attorney Danielle Sassoon tried to point out differences in what Bankman-Fried said about the FTX’s risk management and his involvement with Alameda before and after the exchange’s collapse. Bankman-Fried said he couldn’t recall and wasn’t sure about what he said in the past.
  • Bankman-Fried pushed back when the prosecution tried to show he was in charge at FTX and Alameda. When asked if he called the shots as CEO, Bankman-Fried replied, “I called some of them.” When asked if he was involved in Alameda’s trading in 2022, Bankman-Fried responded, “depends on how you define trading.”
  • Sassoon pointed out that Bankman-Fried backdated documents. She brought up former FTX executive Nishad Singh’s testimony, in which he said Bankman-Fried told him to inflate the exchange’s revenue to reach $1 billion by backdating Serum staking fees. When she showed him a document signed Jan. 1, 2021, Bankman-Fried said he signed it much later than that date and acknowledged that it probably wasn’t the first time he did something like that.
  • The prosecution emphasized that SBF cultivated a certain image, by not cutting his hair and wearing a T-shirt and shorts. “You thought highly of yourself?” Sassoon asked. “I did,” Bankman-Fried answered.
  • Bankman-Fried often said he didn’t recall exactly what he had said in certain circumstances, with “I am not sure” becoming a standard response. At times he also didn’t answer questions directly, prompting Judge Lewis Kaplan to tell him at one point to “just answer the question.”
 
Countem said:
www.theverge.com

Sam Bankman-Fried doesn’t recall

Here comes a special boy.
www.theverge.com www.theverge.com

I’ll just leave this here.
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Great article. Love this passage.

As the day wore on, I saw the mood in the jury box darken. At least three jurors were visibly fed up with Bankman-Fried’s “don’t recall” followed by the exact statement he’d been asked about. The remarkable thing was not that Sassoon had used Bankman-Fried’s many public statements to make him sound like a liar. It was that by denying he remembered making them so consistently, Bankman-Fried made himself sound like a liar.
 
ch_13 said:
Great article. Love this passage.

As the day wore on, I saw the mood in the jury box darken. At least three jurors were visibly fed up with Bankman-Fried’s “don’t recall” followed by the exact statement he’d been asked about. The remarkable thing was not that Sassoon had used Bankman-Fried’s many public statements to make him sound like a liar. It was that by denying he remembered making them so consistently, Bankman-Fried made himself sound like a liar.
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He sounded so impossibly stupid. It is like, how did such an idiot get this much money? And scam people? He looks like he couldn't make a sandwich at Subway.
 
www.reuters.com

Sam Bankman-Fried trial gives jury inside view of FTX's final days

Sam Bankman-Fried's fraud trial has given an unprecedented window into how a group of graduates from elite U.S. universities in their late 20s and early 30s tried, and ultimately failed, to avert one of the biggest and swiftest corporate meltdowns ever.
www.reuters.com www.reuters.com

Jury deliberations are set to begin today.
 
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