FTX Founder Rejects Government’s Misleading Accusations

FTX founder Sam Bankman-Fried (SBF) called government allegations against him misleading. Prosecutors claim SBF tried to influence the testimony of FTX US General counsel.

SBF’s lawyers say he reached out to assist with the bankruptcy case, and the message was sent to the CEO for the same reason. Lawyers assert inactive auto-delete caused the gov’t complaint, with a copy sent to Miller via email.

Moreover, lawyers request restrictions for their clients to only specific individuals, not all former and current FTX employees. Lawyers seek regulation for SBF by contacting Alameda’s ex-CEO, FTX co-founder, and chief engineer, even with lawyers present.

In addition, SBF seeks unfettered communication with the father, therapist, and foreign regulators. Lawyers stated:

Requiring Mr. Bankman-Fried to include counsel in every communication with a former or current FTX employee would place an unnecessary strain on his resources and prejudice his ability to defend this case. Moreover, many of these individuals are Mr. Bankman-Fried’s friends. Imposing a blanket restriction on his contact with them would remove an important source of personal support.

Lawyers asked the court not to ban Signal use by Bankman-Fried, saying the government can’t impose restrictions without evidence. Furthermore, SBF’s legal team seeks court approval for FTX funds access, denying involvement in unauthorized transactions.

Related Reading | Fed Reserve Opens Door For State Banks To Offer Crypto Safekeeping

SBF’s legal team defends innocence in 3-week gov’t probe, refutes rumors of unauthorized transactions post bail. SBF denies involvement. Furthermore, federal prosecutors have, in the meantime, taken assets from the disgraced entrepreneur valued at over $700 million.

Comments (No)

Leave a Reply