FTX’s ex-CEO SBF’s defense faces challenges as the trial approaches. Will their plea for time and strategy shift prove effective? By Kelvin Munene Murithi 4 hours ago Updated 3 hours ago
As the court hearing for Sam Bankman-Fried (SBF), the former CEO of FTX, approaches, the defense team grapples with challenges. Judge Lewis Kaplan has, however, clarified the defense’s window of opportunity, stipulating they have until September 1 to ask for a trial postponement.
Judge Kaplan: On advice of counsel, I’d like a joint proposal by the close of business Friday. I’ll resolve that over the weekend. I’m grateful for the zealous advocacy. Anything else?
SBF’s lawyer: Not from the defense.
AUSA: We don’t think adjournment needed— Inner City Press (@innercitypress) August 30, 2023
Facing the Challenges Head-On
Significantly, Bankman-Fried’s defense has not directly sought a new trial date. They initially opted for an aggressive timeline, aiming to exonerate their client promptly. However, they hinted at needing more time, citing issues accessing discovery materials. Kaplan, showing his typical straightforwardness, emphasized the need for substantial reasons. “There’s got to be more meat on those bones,” he remarked.
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🚨NEW: Judge Kaplan says if @SBF_FTX feels he needs a postponement of his October 2nd court date then his lawyers can request it and they should do it by the end of this week. He also says he wouldn’t “necessarily grant it.” https://t.co/1iZF6jfS8f
— Eleanor Terrett (@EleanorTerrett) August 30, 2023
The August 30 hearing underscored the defense’s plea for Bankman-Fried’s temporary release. They hoped this would aid his preparations for the impending October 3 trial. This request came from Kaplan’s decision to revoke Bankman-Fried’s bail on August 11. Consequently, Sam Bankman was confined at the Metropolitan Detention Center in Brooklyn.
Moreover, the defense contends their client’s limited internet access impedes adequate trial preparation. Besides, there’s the massive volume of evidence produced by prosecutors, which they argue Bankman-Fried hasn’t had ample opportunity to review. Assistant U.S. Attorney Danielle Sassoon countered, noting that Bankman-Fried can review materials for 70 hours a week and has a robust legal team supporting him.
SBF’s Legal Future
Bankman-Fried, embroiled in a severe legal tangle, faces 12 criminal charges. These will span two separate trials, with the first set for October 2, 2023, and the second on March 11, 2024. The crux of his defense is whether he genuinely sought legal advice before his alleged missteps at FTX and Alameda Research or if it’s merely a strategic move.
The court grows weary with the trial date nearing, urging the defense to make their move. Hence, both parties are on tenterhooks, with a lot riding on the outcomes of the upcoming trials.