Sam Bankman-Fried to Testify Against Fraud and Conspiracy Charges

FTX founder Sam Bankman-Fried will testify in the face of fraud and conspiracy charges. Due to the cross-examination process, Bankman-Fried may face tough moments during the federal prosecutors’ interrogation.

Sam Bankman-Fried, the founder of the now-defunct exchange FTX, is set to testify in an upcoming criminal trial in an attempt to clear himself from seven charges of fraud and conspiracy. It appears Bankman-Fried will explore various avenues to convince the jury of his innocence.

Final Witnesses to Be Presented

The defense team is slated to call their final witnesses to the stand on Thursday. Following their testimonies, Bankman-Fried’s lawyers will provide detailed explanations about the collapse of FTX. According to a report by Decrypt, Mark Cohen from the law firm Cohen & Gresser, the lead attorney for the defense, confirmed that Bankman-Fried would testify after the defense presented three witnesses.

Cross-Examination Could Be a Game Changer

The testimonies could significantly influence the course of the trial. However, this could also expose Fried to various risks. Federal prosecutors indicate that the cross-examination could be lengthy, as they may question Bankman-Fried for hours. Furthermore, it’s mentioned that during this examination, the prosecutors might have the right to present evidence that would otherwise be inadmissible.

The federal prosecution previously announced plans to present witnesses and evidence over several weeks to prove that Bankman-Fried abused his position. However, it has been learned that the defense team has hinted the trial process might not last more than a week and a half.

Regarding the matter; FTX Prepares to Reopen: Decision Will Be Made by Mid-December

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