The lawyers of Sam Bankman-Fried say that the process in October could be delayed: Report

The lawyers of Sam Bankman-Fried say that the process in October could be delayed: Report

On March 8, lawyers of the former crypto billionaire Sam Bankman-Fried said that his criminal proceedings planned for October 2 may have to be postponed.

They argued that according to Reuters it could take longer than expected to check the evidence and prepare a defense.

The lawyers sent a letter to the US district judge Lewis Kaplan, in which they said that the federal prosecutor's office in Manhattan still had to present evidence. They collected data from devices from the former Alameda CEO Caroline Ellison and the former FTX technology chief Gary Wang, who were previously the closest employees of SBF.

In addition, four new charges for fraud and conspiracy were added at the end of the last month. This increased the number of charges against the former FTX boss to 12th

Bankman-Fried noticed in January after his arrest in December in eight cases of fraud.

The credibility of witnesses could be questioned

SBF was released for a deposit of $ 250 million and is under house arrest in his parents in his parents in California. Judge Kaplan had considered changing the deposit conditions after it was found that Bankman-Fried had used a VPN for internet access.

Before that, he was forbidden to contact former FTX employees and use data protection-oriented messaging services. However, the prosecutors suggested that he should remain at large with strict restrictions on the use of technology.

According to his lawyers, part of Banksman-Fried's defense will try to distance yourself from the daily business of FTX.

You have suggested that he will try to blame Ellison and to contest her expected statement in his possibly delayed process.

Rebecca Mermelstein, a former federal prosecutor of Manhattan, told Reuters: "The accused will say: 'No, you did it, you were the one who was most responsible for it, and now try to blame me'."

to question the credibility of cooperating witnesses is a frequently used strategy for defendants who often argue that they are motivated to lies and get involved to obtain indebtedness.

FTX attorney costs almost $ 40 million

In similar news this week it became known that the team of lawyers and bookholders who work for FTX invoiced a whopping $ 38 million for their services in January alone.

The epic invoices are determined according to court documents for a team of hundreds of lawyers, consultants, lawyers' assistants and bookholders.

The FTX administrators commissioned the law firm Sullivan & Cromwell as legal advisors after 14,569 hours of $ 16.8 million were invoiced.

ftx has sued the crypto fund manager Grayscale this week to release up to $ 9 billion from its Bitcoin and Ethereum Trust.

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