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Sam Bankman-Fried’s trial represents one of the most significant instances of white-collar securities fraud in Manhattan, with billions of dollars misappropriated from the now-defunct cryptocurrency exchange FTX, resulting in considerable financial hardship for former users (and employees).
In a recent development, the attorneys for the disgraced founder raised objections to the four million pages of discovery documents supplied by the US Department of Justice (DOJ), asserting that this action is “fundamentally unfair and should not be allowed.”
4 Million Pages of Evidence Against SBF
In a correspondence directed to Judge Lewis Kaplan, SBF’s legal team argued that the government’s approach was evidently inadequate. They also stated that this action infringed upon the FTX founder’s Sixth Amendment right to engage in the preparation of his defense and his entitlement to effective legal counsel.
While contesting the four million additional pages of discovery that the government presented last week, SBF’s attorneys contended,
“We further object to the Government’s production, just yesterday, of an additional 4 million pages of discovery. The Government cannot be allowed to dump millions of pages on the defense less than six weeks before trial, especially when the Government has no plans whatsoever to produce the documents to Mr. Bankman-Fried in the MDC for his review.”
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Moreover, the legal team asserted that even if SBF were granted bail and had unlimited time to review these documents, it would likely remain impractical for him to complete the examination prior to the trial date, which is set for October 3rd.
Consequently, the court filing is requesting a temporary release to address “these problems and safeguard” SBF’s right to engage in his own defense.
SBF’s Defence Strategy
Crypto analyst Adam Cochran noted that the four million pages in question could assist in “unearthing every shady dealing around” since they include chats, accounts, documentation, money flow, as well as co-conspirator testimonies. He also speculated that SBF’s attorneys “must be advising a plea deal here.”
The former FTX CEO had been released on a $250 million bond for about eight months following his extradition from the Bahamas and his initial court appearance in the United States in December 2022. However, after allegations of witness intimidation involving former Alameda Research CEO Caroline Ellison surfaced, a federal judge revoked his bail.
To date, SBF has denied any misconduct and has pleaded not guilty to all charges. His legal representatives, however, have been advocating for improved conditions for him following his incarceration on August 11th.
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