Sam Bankman-Fried plans to testify at his New York fraud trial, his lawyer says
A lawyer for Sam Bankman-Fried says the FTX founder plans to testify at his fraud trial
NEW YORK — FTX founder Sam Bankman-Fried plans to testify at his fraud trial, his lawyer told a federal judge Wednesday, ending speculation over whether a man who embraced the spotlight during his years atop the cryptocurrency world could remain silent after prosecutors portrayed him as a greedy entrepreneur who stole billions of dollars from customers.
Attorney Mark Cohen told Judge Lewis A. Kaplan that he planned to call three witnesses “and then our client is also going to be testifying” after prosecutors rest early Thursday.
Cohen spoke during a phone and video conference in Manhattan federal court after the judge told him: “It’s time to tell me what defense case, if any, you’re going to put on.”
The judge told him that he didn't have to say yet whether Bankman-Fried would testify, but Cohen volunteered that he would.
Even so, prosecutors and the judge later discussed the possibility that closing arguments could occur as early as next week.
Bankman-Fried, 31, has pleaded not guilty to charges that he looted the financial accounts of his customers and investors to live lavishly and bolster the reputation of himself and his companies through large donations to charity and political candidates.
He seemed to enjoy publicity as Alameda Research, a hedge fund he started in 2017, and FTX, a crypto exchange that began operating n 2019, became so prominent in the crypto industry that celebrities including NFL quarterback Tom Brady and comedian Larry David did commercials that put a shine on what appeared to be a stunning success story.
Over the last month, prosecutors have leaned heavily on testimony from Bankman-Fried's inner circle,
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