Judge Rules on Bankman-Fried’s Attorney Role Emphasis – Update 2nd October 2023 – Short summary

[NFT Studio 24]

Judge Kaplan ruled that Sam Bankman-Fried can’t emphasize FTX’s attorneys’ role in his opening statement but can explore an “advice-of-counsel” defense later. The defense had planned to argue that lawyers influenced certain decisions, but the judge wants clarity to prevent jury confusion or bias. Bankman-Fried’s team can revisit this issue after notifying the judge and the DOJ, without jurors present. The case involves decisions related to auto-deleting messages, “North Dimension” entities, banking with Silvergate, loans, intercompany agreements, and FTX’s terms of service, with questions about attorney involvement and approval. The judge will decide on a case-by-case basis.

 

[Hinza Asif]

In the view of many legal experts, Judge Kaplan’s decision to restrict Sam Bankman-Fried from emphasizing the role of FTX’s attorneys at Fenwick & West in his opening statement appears to be a prudent one. This limitation aims to maintain clarity in the trial proceedings and prevent any potential confusion or bias among jurors.

While the “advice-of-counsel” defense remains an option for Bankman-Fried later in the trial, it’s essential to provide specific details when alleging attorney involvement in certain decisions made by FTX. This requirement aligns with the principles of transparency and fairness in legal proceedings.

Ultimately, the judge’s approach to address attorney involvement and its admissibility on a case-by-case basis demonstrates a commitment to ensuring a fair and impartial trial. The opinion here is that such measured decisions help maintain the integrity of the legal process.

[Nimra]

Everyone has their eyes on Bankman-Fried’s fraud trial. The recent rule by Judge Kaplan indicates that SBF’s legal team cannot use the “advice of counsel” to bail him out.
Furthermore, according to the Washington Post, US prosecutors will charge SBF for using political operations to attract users to his fraud scheme aka FTX. In other words, he deliberately used politics to gain public trust and gain more users in his now-bankrupt FTX exchange. Knowing SBF, he had a big political influence in early 2022, he funded a few US political campaigns to gain favor. Surprisingly, none of them have openly defended Sam, probably to avoid any investigation from the court.
Will the court summon any politicians supported by SBF? That’s big a question now.

[Clover]

Furthermore, according to the Washington Post, US prosecutors will charge SBF for using political operations to attract users to his fraud scheme aka FTX. In other words, he deliberately used politics to gain public trust and gain more users in his now-bankrupt FTX exchange. Knowing SBF, he had a big political influence in early 2022, he funded a few US political campaigns to gain favor. Surprisingly, none of them have openly defended Sam, probably to avoid any investigation from the court.