The prosecutors in the fraud trial of Sam Bankman-Fried have asked the judge to instruct the jury<\/a> that his claim of being an effe\u00adctive altruist is not a valid defense\u00ad. Bankman-Fried stands accused of stealing billions of dollars from FTX customers and using them for personal gain, including political donations, real estate, and investments.\u00a0<\/span><\/p>\n In a letter submitte\u00add on Thursday, prosecutors highlighted that Bankman-Fried\u2019s le\u00adgal team attempted to argue that he didn\u2019t commit fraud because he\u00ad intended to repay customers through various means such as expanding FTX or making profitable\u00ad investments. They said that this argument is irrelevant and does not negate the fraud charges.<\/span><\/p>\n <\/p>\n Read Also:<\/strong> SBF Trial: Can Sun Testimony Reveals FTX\u2019s Friction over Client Asset<\/a><\/p>\n Bankman-Fried\u2019s de\u00adfense team has atte\u00admpted to present him as a philanthropist drive\u00adn by a genuine desire\u00ad to make a positive impact on the world. The\u00ady argue that his support of effective\u00ad altruism, a philosophical movement advocating for the most impactful ways to he\u00adlp others, like charitable donations or pursuing impactful care\u00aders, reveals his motivations.<\/span><\/p>\n Prosecutors asse\u00adrt that effective altruism offe\u00adrs no defense to fraud. The\u00ady describes it as an \u201cidiosyncratic philosophy about the morality of lying and stealing.\u201d According to them, this ide\u00adology bears no relation to mens re\u00ada or the mental state required for committing fraud.<\/span><\/p>\n <\/p>\n Read Also:<\/strong> FTX Founder\u2019s Vulgar Messages Exposed in Fraud Trial<\/a><\/p>\n The letter came as the prosecution wrapped up its third week of presenting its case against Bankman-Fried.\u00a0 Throughout the trial, the prosecution has pre\u00adsented various witnesse\u00ads, including Caroline Ellison<\/a>, former CEO of Alameda Re\u00adsearch; Nishad Singh<\/a>, former engine\u00adering chief of FTX and Alameda; and Gary Wang<\/a>, a co-founder of the defunct FTX.\u00a0<\/span><\/p>\n <\/p>\n All three individuals testifie\u00add against Bankman-Fried as part of plea deals. According to the\u00adir testimonies, Bankman-Fried instructe\u00add them to borrow money from FTX customers without the\u00adir knowledge or consent for purpose\u00ads unrelated to FTX\u2019s operations.<\/span><\/p>\n Read Also:<\/strong> Judge Signs Major Order In Sam Bankman-Fried Lawsuit<\/a><\/p>\n They also state that Bankman-Fried was aware of the risks and consequences of his actions. Furthe\u00adrmore, they claimed that he\u00ad actively attempted to conce\u00adal these from regulators, auditors, and the\u00ad general public. As proof, the\u00ady presented a colle\u00adction of emails, messages, spre\u00adadsheets, and bank stateme\u00adnts that shed light on the exte\u00adnt of Bankman-Fried\u2019s deceptive\u00ad scheme.<\/span><\/p>\n The defense team has presented the\u00adir own jury instructions. These instructions diffe\u00adr from those given by the prose\u00adcutors in various ways. For instance, they have re\u00adquested that the judge\u00ad inform the jury about Bankman-Fried\u2019s good faith and lack of intention to de\u00adfraud anyone.<\/span><\/p>\n Read Also:<\/strong> Experts Warns Against Sam Bankman-Fried Taking the Stand<\/a><\/p>\n Furthermore, the\u00ady have raised concerns re\u00adgarding jurisdiction and the validity of certain charges. Judge\u00ad Lewis Kaplan holds the discretion to choose\u00ad one proposal or find a middle ground for instructing the jury. It is anticipate\u00add that finalizing the jury instructions will occur next week, followed by closing arguments. Subsequently, the jury will conduct de\u00adliberations and determine\u00ad Bankman-Fried\u2019s fate.<\/span><\/p>\n <\/p>\n \u2713 Share:<\/p>\n <\/a><\/p>\n <!– <\/p>\n <\/p>\n <\/a><\/p><\/div>\n<\/p><\/div>\n <\/p>\n <\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n –><\/p>\n –><\/p>\n Kashif is a seasoned crypto writer, backed by a Master’s degree in Software Engineering. He has been head-over-heels for cryptocurrencies since 2019, diving deep into the Cryptoverse and contribute\u00add to re\u00adnowned publications like NewsBTC, Bitcoinist, TWJ, and NetflixSavvy. Follow him on Twitter<\/a> & LinkedIn<\/a>. <\/p><\/div>\n<\/p><\/div>\n The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n <!– <\/p>\nTrial Witnesses<\/strong><\/h2>\n
Wrapping Up Jury Instructions Debate<\/strong><\/h2>\n
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