{"id":186169,"date":"2023-11-02T23:35:40","date_gmt":"2023-11-02T18:05:40","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=186169"},"modified":"2023-11-02T23:35:40","modified_gmt":"2023-11-02T18:05:40","slug":"prosecution-makes-closing-argument-against-sbf-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/prosecution-makes-closing-argument-against-sbf-crypto-news\/","title":{"rendered":"Prosecution makes closing argument against SBF – Crypto News"},"content":{"rendered":"
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The government presented its rebuttal against Sam Bankman-Fried on Nov. 2 in response to statements made by his defense during the closing arguments a day earlier.<\/p>\n

A jury of 12 will receive final instructions in the Southern District Court of Manhattan on Nov. 2. The jury will receive pizza and transportation if their verdict comes after court hours, according to District Court Lewis Kaplan.<\/p>\n

\n

As the trial of @SBF_FTX<\/a> draws near its conclusion, the prosecution and defense lay down their final arguments. https:\/\/t.co\/csFJ5AAZxm<\/a><\/p>\n

\u2014 Cointelegraph (@Cointelegraph) November 1, 2023<\/a><\/p><\/blockquote>\n

Speaking on the court, \u200b\u200bU.S. Assistant Attorney Danielle Sassoon claimed prosecutors \u201cmet the burden\u201d of proving that Bankman-Fried is guilty of seven counts of fraud and conspiracy to commit fraud.<\/p>\n

According to Sassoon, the former FTX CEO gave customers, investors and the media the false impression that assets held at FTX were safe and that Alameda Research had no involvement with the funds.<\/p>\n

Sassoon pointed to Bankman-Fried\u2019s tweets and public statements made in the months and weeks before FTX\u2019s collapse, including claims that customers\u2019 funds were held in segregated accounts when, in reality, they were being used by Alameda Research.<\/p>\n

Sassoon also refuted the defense\u2019s argument that Bankman-Fried made public appearances in the media after FTX\u2019s collapse, claiming his interviews and tweets used to make him look reliable at a time his exchange wasn\u2019t able to pay back its customers. <\/p>\n

\u201cHe didn\u2019t want to be a criminal on the run,\u201d she noted, adding that Bankman-Fried had the ambition to be president of the United States. “He lied to get customers\u2019 trust.”<\/p>\n

The prosecution went over spreadsheets to refute claims that Bankman-Fried didn’t know about Alameda\u2019s multi-billion-dollar line of credit and repayment of lenders with customer funds, adding that Bankman-Fried thought customer funds were his \u201cpiggy bank.\u201d<\/p>\n

According to Sassoon, the defense’s assertion that the government painted Bankman-Fried as a monster during closing arguments the day before was \u201cdesperate.\u201d<\/p>\n

\u201cThey were acting at the defendant\u2019s direction,\u201d Sassoon said about Caroline Ellison<\/a>, Gary Wang and Nishad Singh. <\/p>\n

Bankman-Fried’s former inner circle cooperated with the government and testified in the case<\/a>. During closing arguments, defense attorneys tried to disqualify their testimony, claiming it was made under a strict cooperation agreement with federal prosecutors.<\/p>\n

The defense, according to Sassoon, wanted the jurors to believe that Bankman-Fried was clueless about what was going on with Alameda and FTX. \u201cIt’s absurd,\u201d said the U.S. attorney, claiming the defense’s claims contradicted the evidence.<\/p>\n

Related:\u00a0Sam Bankman-Fried \u2018doubled down\u2019 by buying Binance\u2019s stake in FTX \u2014 US prosecutors<\/a><\/em><\/strong><\/p>\n

The FTX strategy, Sassoon said, was to not hire a risk officer to ensure nobody found out about deleted messages<\/a> and embezzlement.<\/p>\n

\u201cHe knew what he was doing was wrong; that\u2019s why he never hired a risk officer,\u201d she told the jury.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The government presented its rebuttal against Sam Bankman-Fried on Nov. 2 in response to statements made by his defense during the closing arguments a day earlier. A jury of 12 will receive final instructions in the Southern District Court of Manhattan on Nov. 2. The jury will receive pizza and transportation if their verdict comes […]<\/p>\n","protected":false},"author":2,"featured_media":186170,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-186169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/186169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=186169"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/186169\/revisions"}],"predecessor-version":[{"id":186172,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/186169\/revisions\/186172"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/186170"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=186169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=186169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=186169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}