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Attorneys for Sam Bankman-Fried request modifications to the jury instructions from the judge.
Lawyers representing former FTX CEO Sam Bankman-Fried have submitted another letter to the presiding judge, requesting modifications to the jury instructions. In the correspondence directed to Judge Lewis Kaplan, the defense attorneys asked that the jury take into account the influence of English law on FTX’s terms of service.
The suggestion urges the 12 jurors in the case to recognize that for misappropriation to be established, there must have been a trust, fiduciary relationship, or a comparable connection between FTX and its clients. However, the firm’s terms of service have made it clear that no such relationship existed between the two parties.
The defense attorneys’ suggestion stated:
“According to English law, the Terms of Service do not establish a trust relationship or a similar fiduciary relationship between FTX and its clients. Additionally, under English law, any representations made after a customer accepted the Terms of Service do not create a trust relationship or similar fiduciary relationship.”
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They further noted, “A person’s subjective expectation, understanding, or belief that a trust, fiduciary relationship, or similar relationship was present does not establish such a relationship.”
The defense team referenced several examples from other cases in the United Kingdom in a final effort to secure a not-guilty verdict for their client.
Related: Michael Lewis’ new book presents a favorable perspective on Sam Bankman-Fried
Bankman-Fried’s legal team has made multiple requests to the judge throughout the proceedings, including several appeals for early bail prior to the trial, citing insufficient facilities for preparation. However, most of these requests have been denied.
The former FTX CEO is currently facing numerous charges of fraud and misappropriation of customer funds to support his personal expenditures. Throughout the trial, Bankman-Fried has denied any misuse of funds and asserted that he has not defrauded his clients. Previously, Bankman-Fried was also accused of witness tampering.
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