Mark Cohen, the attorney representing former FTX CEO Sam Bankman-Fried, has provided a detailed outline of the upcoming testimony in a letter addressed to Judge Lewis Kaplan. The letter indicates the defense's intention to have Bankman-Fried testify during his direct examination, offering a perspective that challenges the government's allegations against him.
Cohen's letter also includes a request for permission to access information about Bankman-Fried in accordance with the court's October 1, 2023 order. The defense aims to address various matters during Bankman-Fried's testimony, including the automatic expungement policy, the creation of the North Dimension entity, the paying agency agreement, the Alameda loan, and the drafting of FTX's terms of service.
The defense will assert that Bankman-Fried's understanding of legal counsel's involvement is central to his state of mind and good intentions, emphasizing his knowledge of industry practices to support his belief that his actions aligned with accepted norms.
Furthermore, the letter highlights the significance of Bankman-Fried's testimony in countering inferences derived from previous witness statements. It particularly underscores his intentions on November 12, 2022, aiming to clarify any ambiguities surrounding his actions.
The defense will also delve into Bankman-Fried's good faith intention to comply with instructions from Bahamian authorities, emphasizing his belief in their prioritization of FTX clients' welfare and potential conflicts of interest between FTX's internal and U.S. bankruptcy counsel.
The U.S. government is expected to conclude its case against Bankman-Fried on the morning of October 26, followed by the defense's proceedings the next day. Closing arguments may take place as early as October 31, depending on the progress of the trial.
