Trial Twist: Sam Bankman-Fried’s Political Donations Unveiled
The facts of Sam Bankman-Fried’s political donations will be made public by prosecutors from the United States Department of Justice, according to U.S. District Judge Lewis Kaplan, because the evidence is directly relevant to his fraud accusations.
The finding was part of a string of orders issued by Kaplan in a 16-page pretrial order on Sept. 26, in which he clarified which evidence would be admitted in court during the FTX founders’ fraud trial, which is set to begin on Oct. 3.
Federal prosecutors first charged Bankman-Fried with conspiracy to violate US campaign finance rules, as well as seven other fraud and conspiracy offenses; however, the charges were ultimately withdrawn as part of an extradition arrangement with the Bahamas.
In addition to allowing discussion of Bankman-Fried’s campaign contributions, Kaplan granted the prosecution’s motion to present evidence detailing Bankman-Fried’s alleged role in the creation of the FTX Token, as well as the ways in which he allegedly directed Alameda Research and its then-CEO Caroline Ellison to manipulate the token’s price.
“The alleged manipulation of the cryptocurrency tokens, which resulted in an alleged manipulation of Alameda’s balance sheet, was an act ‘done in furtherance of the alleged conspiracy’ and therefore is considered ‘part of the very act charged,'” said Kaplan.
“Moreover, the defendant’s claimed direction to Ms. Ellison to manipulate the price of FTT is obvious evidence of their “mutual trust relationship.” This evidence’s probative worth overcomes any risk of unjust partiality. “It’s legal,” Kaplan concluded.
While Kaplan permitted several evidence submissions for the DOJ, he also allowed Bankman-Fried’s lawyers to ask government witnesses about their recreational drug use as long as they gave the court prior notice.
Caroline Ellison, a former FTX engineer, and FTX co-founder Gary Wang are among the government witnesses.
Kaplan also refused the Department of Justice’s motions to prevent the defense from cross-examining witnesses on “privileged” matters. Furthermore, he decided that Bankman-Fried would be barred from discussing any aspects of his pre-trial incarceration, family background, money, or age in front of a jury.
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