July 21, 2024
Legal team for Sam Bankman-Fried seeks temporary release
Latest Cryptocurrency News

SBF’s Legal Team Seeks Temporary Release for Adequate Trial Preparation

The legal representative of Sam Bankman-Fried in his forthcoming legal battle against the United States Department of Justice has put forward a renewed plea for his temporary release from incarceration in order to adequately prepare for the impending trial.

On September 25, Mark Cohen formally requested Judge Lewis Kaplan, who is overseeing the case, to grant temporary release to SBF, asserting that it is essential for the preparation of his defense. “We assert that the current limitations on access are making it exceedingly challenging for us to effectively prepare for the trial from a practical standpoint,” Cohen emphasized.

He went on to explain that the government had furnished the defense with a list of 50 witnesses and a multitude of evidentiary material and exhibits. Cohen maintained that without the ability to confer with SBF and adequately prepare for these witnesses and exhibits outside the courtroom, they would be unable to adequately represent him.

Cohen also stressed that the case is extremely intricate and complicated, and the legal team requires their client’s assistance to comprehend certain nuances of the case. He emphasized that SBF’s knowledge and insights cannot be replicated by third-party experts. The updated conditions for temporary release stipulate that when not in the courtroom, SBF must either remain in the company of his attorneys at their place of work or be accompanied by a security detail in a temporary residence within New York City.

Furthermore, the terms state that SBF would consent to a gag order throughout the trial, which would prevent him from communicating with anyone other than his legal counsel and defense team, as well as his immediate family members.

On September 21, a three-judge panel denied the former FTX CEO’s request for early release from detention, characterizing the arguments presented by the defense in the release petition as unconvincing.

Simultaneously, Judge Kaplan granted limine motions from the prosecution, effectively barring specific witnesses from providing testimony in support of SBF during the forthcoming criminal trial.

Bankman-Fried’s initial criminal trial is scheduled for October 3, during which he will confront seven criminal charges related to the alleged mishandling of user funds at FTX and Alameda Research. The second trial is slated for March 2024, involving five additional criminal charges. SBF has entered a plea of not guilty to all charges.

Image by pixabay

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