Sam Bankman-Fried claims FTX actions were guided by lawyers
Sam Bankman-Fried claims FTX actions were guided by lawyers
Updated October 26, 2023 at 6:53 p.m. ET
Founder of FTX Sam Bankman-Fried glimpsed a potential defense Thursday when he told a federal judge that he relied on lawyers’ blessing to make business decisions such as suppressing communications and granting loans to himself, actions that, prosecutors say allowed him to commit the crimes that led to the implosion of his crypto exchange.
Bankman-Fried, on trial for fraud, money laundering and other crimes, was scheduled to testify before a Manhattan federal jury Thursday afternoon. Instead, during what amounted to an unusual practice session after the jury was dismissed for the day, U.S. District Judge Lewis Kaplan demanded that the FTX founder review several issues in dispute so the judge could rule on what Bankman-Fried could tell jurors.
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