Wednesday, March 29, 2023

SBF responds to US prosecutors and asks for access to FTX funds

Disgraced FTX founder Sam Bankman-Fried (SBF) said the recent government allegations portrayed him in the “worst light”. US prosecutors alleged that the SBF’s message to FTX US General Counsel Raine Miller was an attempt to influence his testimony.

According to the legal advisor of SBF, Disgraced founder only reached out to help with bankruptcy case, He added that a similar message was sent to John Ray, the CEO of the bankrupt exchange, confirming that the SBF was only trying to help.

The lawyers said the automatic deletion feature the government had complained about was not enabled for the message in question, and a copy was emailed to Miller.

SBF lawyers propose banning FTX accomplices

The attorneys argued that their client should be restricted from specific individuals, not all former and current FTX employees.

According to the lawyers, SBF Should Be Banned From Communicating With Alameda’s Former CEO, Caroline Ellison, FTX co-founder Zixiao “Gary” Wang, and the exchange’s chief engineer, Nishad Singh. The lawyers said the ban would prevent them from contacting these people, even in the presence of their lawyers.

Even then, SBF requests unlimited access to his father, Alan Joseph Bankman, her physician George Lerner; and officials of foreign regulators. The lawyers wrote:

“Requiring Mr. Bankman-Fried to engage an attorney in every communication with a former or current FTX employee would place unnecessary strain on his resources and reduce his ability to defend this matter. Also, many of these people are friends of Mr. Bankman-Fried. Placing a blanket ban on your contact with them would eliminate an important source of personal support.”

Other than this, Lawyers urge court not to bar Bankman-Fried from using ephemeral messaging apps like Signal, According to the lawyers, the government cannot request such restrictions based on unfounded concerns.

Seek access to FTX crypto assets

legal team of SBF seeks court access to FTX funds Because you were not involved in a previous unauthorized transaction.

According to the lawyers, the government’s investigation into the unauthorized transactions has lasted about three weeks and should have shown that the SBF’s claim about the transactions was valid.

Several Almeida wallets transferred funds days after the SBF received the bonds, fueling rumors that he may have been behind the transactions. Even then, SBF has repeatedly insisted that these transactions were not done by it.

Meanwhile, federal prosecutors have seized around $700 million in assets from the disgraced founder.


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Nation World News Desk
Nation World News Desk
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