Key takeaways:
- Lawyers for SBF have filed with the presiding court another letter requesting modifications to the jury instructions.
- In order for misappropriation to have happened, the plan asks the case’s twelve jurors to assess whether FTX and its clients had a fiduciary connection.
Lawyers for Sam Bankman-Fried (SBF), the former CEO of FTX, have filed with the presiding court another letter requesting modifications to the jury instructions.
The defense attorneys asked the jury to take into account how English law applies to FTX’s terms of service in a letter to Judge Lewis Kaplan.
In order for misappropriation to have happened, the plan asks the case’s twelve jurors to assess whether FTX and its clients had a fiduciary connection, trust, or another kind of similar relationship.
Nonetheless, it has been made clear by the company’s terms of service that there was no connection between the two. The defense lawyers’ offer was as follows:
“Under English law, the Terms of Service do not create a trust relationship or similar fiduciary relationship between FTX and its customers. Nor, under English law, do any representations made after a customer agreed to the Terms of Service create a trust relationship or similar fiduciary relationship. ”
They went on to say, “It does not create such a relationship if a person subjectively expected, understood, or believed that a trust, fiduciary relationship, or similar relationship existed.”
In a final attempt to get their client found not guilty, the defense team referenced a number of instances from other cases in the United Kingdom.
Throughout the course of the case, SBF’s counsel has made a number of requests to the judge, including many requests for early bail before the trial, citing a lack of suitable accommodations to prepare. But the majority of requests have been turned down.
Numerous accusations of fraud and abuse of consumer funds to support personal expenses are presently being brought against the former CEO of FTX.
Throughout his trial, SBF has maintained that he hasn’t cheated his clients and has denied misusing funds. SBFt was also charged with witness tampering in the past.
