Sam Bankman-Fried‘s attorneys argue that he was not previously involved in any fraudulent transactions and should have access to company assets.
Sam Bankman-Fried’s team of attorneys is seeking to overturn bail conditions that have prevented him from accessing his FTX funds, court filings dated Jan. 28 show.
In a letter from Bankman-Fried’s attorney Mark Cohen to U.S. District Judge Lewis Kaplan, Bankman-Fried said he should have access to assets held by FTX and that the client had not previously engaged in fraudulent transactions. I claim.
FTX and FTX US said he demanded illegal transfers of more than $659 million during the crypto exchange meltdown in November 2022.Bankman-Fried denies any involvement in the transaction. According to the letter sent to Kaplan, Bankman-Fried “accessed or transferred FTX or Alameda assets or cryptocurrencies, including assets or cryptocurrencies acquired using FTX or Alameda funds.” was stopped following the instructions of the US authorities requested in the first court hearing.
January 3rd. At the time, prosecutors admitted there was no evidence Bankman-Fried wired the money and said a federal investigation was underway.
“It has been almost three weeks since the first pretrial meeting, and I understand that a government investigation has confirmed what Mr. Bankman-Fried has been saying all along: that he has access to those assets. and did not transfer it,” the letter read, noting that the defense notified authorities “as soon as it became aware of the transfer to provide notice.”
Further, the attorney argued that:
“Given that the sole basis advanced for seeking that condition has not been supported, we believe that the bail condition imposed at the conference should be removed.”
Additionally, the letter responds to a Jan. 27 request from the U.S. Department of Justice barring Bankman-Fried from communicating with “current or former employees” of FTX or Alameda Research without the presence of an attorney. I’m here.
The prosecutor’s request is that Bankman-Fried contacted Ryne Miller, the current general counsel of FTX US, via his Signal and email on January 15. Bias” was done after giving.
According to Cohen’s letter, Bankman-Fried should have unrestricted access to her father, her therapist, and employees or representatives of foreign regulatory bodies in her attorney’s absence. Defense counsel explained:
“For example, it would mean that Mr. Bankman-Fried could not speak to his therapist, who is a former FTX employee, without the participation of his lawyers. According to public sources, FTX and Alameda had approximately 350 employees. Each of these current and former employees could have information crucial to Mr. Bankman-Fried’s defense. Requiring Mr. Bankman-Fried to include counsel in every communication with a former or current FTX employee would place an unnecessary strain on his resources and prejudice his ability to defend this case.”
On November 11, 2022, FTX filed for bankruptcy protection and Bankman-Fried stepped down as company CEO. Out on bail at his parents’ home in California, he faces eight counts of his charges, including wire fraud and money laundering.