UPDATE: Sam Bankman-Fried Gets Bad News—Where Does He Go From Here?

September 22, 2023 11:15 am Comments

Sam Bankman-Fried continues to face legal hurdles ahead of his trial set to begin on October 3.

The former CEO of the FTX exchange sought to have a panel of 7 expert witnesses testify as part of his defense, but a federal judge recently denied that motion.

Lawyers for the disgraced CEO also moved to exclude one government witness from the trial—this also failed to materialize, and the witness will testify on behalf of the prosecution.

Additionally, Bankman-Fried lost his bid to secure pretrial release and will remain in jail throughout the trial.

Coin Telegraph reports: “A federal judge has sided with the Department of Justice over SBF’s legal team and will bar certain witnesses from testifying for the former CEO of FTX.”

Sources confirmed that Sam Bankman-Fried will remain in jail throughout the course of the trial.

Crypto Slate provided a list of the excluded witnesses:

Bankman-Fried’s list of now-excluded witnesses featured experts in multiple areas, including consultant Thomas Bishop, data analyst Brian Kim, law professor Bradley Smith, British barrister Lawrence Akka, consultant Joseph Pimbley, financial consultant Peter Vinella, and assistant business professor Andrew Di Wu.

Luc Cohen presented this concerning passage of legal allegations against the former FTX CEO alleging that he distributed amphetamines to his employees.

Previously, it was widely reported that SBF wanted to pay each witness up to $1,200 per hour, despite claiming he had $100,000 or less in his possession. Where is the extra money coming from?

CoinDesk reports:

In August, the FTX founder’s release on bond was revoked and he was locked up because a judge ruled he’d probably tried to tamper with witnesses.

Earlier this month, his request to overturn that decision was denied. On Thursday, an appeals court refused to overrule that.

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.