As FTX co-founder Sam "SBF" Bankman-Fried's fraud trial looms closer, new court documents reveal that he might be paying expert witnesses over $1,000 per hour if they testify on his behalf.
SBF is expected to summon seven expert witnesses during his trial, currently slated for October 2, 2023. The list of potential expert witnesses includes Lawrence Akka, Thomas Bishop, Brian Kim, Joseph Pimbley, Bradley Smith, Peter Vinella, and Andrew Di W u .
Some of these witnesses, like former Federal Election Commission Chairman Bradley Smith, could bill SBF's legal team at a rate of $1,200 an hour for testing on matters relating to US campaign finance laws and straw donors, according to court filings from August 2 8.
Smith, as stated in the documents, clarified, "I have no financial interest in the outcome of this case. My time and services are billed on an hourly basis at a rate of $1,200 per hour." The documents emphasized that Smith's compensation isn't t t contingent on the case's outcome or the opinions he provides.
Other expert witnesses, such as Aka and Pimbley, could charge $1,000 and $720 an hour, respectively, for their testimony, as indicated in court records. The proposed hourly rates for other potential SBF expert witnesses range from $400 to $650.
In contrast, a prosecution witness named Peter Easton, an accounting professor at the University of Notre Dame, is documented as charging $1,175 per hour. The documents in question are part of a US Department of Justice (DOJ) motion aimed at preventing all seven expert witnesses from testing in support of SBF during the trial.
The DOJ's argument revolves around the assertion that the expert opinions offered by Bankman-Fried and the associated disclosures contain significant flaws that don't establish a solid basis for their opinions. They contend that if the defense did indeed provide expert opinions, these opinions were inappropriate subjects for expert testimony, lacked sound methodology or factual and data-based foundations, or were inconsequential and could potentially confuse the jury.
These Developments Arise Amid A DEADLINE for SBF To Seek A TRIAL Post. If Such A Request is Filed and APPROVED BeFore September 1, The TRIAL's Start Will be deferred to March 11, 2024. Bankman-Frices a Total of 12 Criminal Charges, Spread across two separate trials scheduled for October 2, 2023, and March 11, 2024, respectively. He has entered a plea of not guilty to all counts.
