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☆ Trump Legal Team Rejects Calls for Testimony Limits in Defamation Case
▼ + stars: | 2024-01-14 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

A jury last year found in a civil case that Trump had sexually abused Carroll in the 1990s and then defamed her in 2022 by calling her a liar. Multiple courts have sought to require Trump not to stray into diatribes and speechmaking. U.S. District Judge Lewis Kaplan this month ruled that the former president may not tell the jury he did not rape Kaplan. "[I]t would be a manifest injustice to require President Trump to proffer his guilt, under oath, for acts that he maintains did not occur" and which were not proven beyond a reasonable doubt, attorney Alina Habba wrote. Habba also argued that, despite pre-set limits on his testimony, Trump would be free to testify about the context in which he made his remarks about Carroll as evidence showing whether he did so with hatred or ill will.

Persons: Donald Trump, Trump, Jean Carroll, defaming, Carroll, District Judge Lewis Kaplan, Kaplan, Alina Habba, Habba, Douglas Gillison, Mark Porter Organizations: Reuters, Republican, District Locations: New York, speechmaking, U.S

☆ E. Jean Carroll is taking Trump to trial over defamation and sexual abuse. Again. Wait, what?
▼ + stars: | 2024-01-13 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +8 min

Read previewFormer President Donald Trump will once again go to trial over his sexual abuse of E. Jean Carroll. Here's what to expect from the second Carroll trial:AdvertisementWhy is Trump going to trial again for Carroll's allegations, anyway? He ruled that Trump doesn't get a re-do on Carroll's sexual abuse claims. Kaplan also ruled that it was fine for Carroll's lawyers to say that Trump "raped" Carroll. At a press conference following closing arguments in a different Trump trial, the former president told journalists he would attend the Carroll trial.

Persons: —, Donald Trump, Jean Carroll, Hot, Carroll, Trump, Goodman, didn't, Diddy, Jamie Foxx —, Joe Tacopina, Justice Department —, Lewis Kaplan, defaming Carroll, Kaplan, Will Trump, Charles Malkus, Ashlee Humphries, Humphries, Rudy Giuliani's Organizations: Service, Trump Organization, New York Attorney, Business, Trump, Carroll, Justice Department, Trump's, Justice, New York Penal Locations: Manhattan, Trump, New York, York, Carroll

☆ Appeals court rejects Trump's request to pause proceedings in E. Jean Carroll case
▼ + stars: | 2023-12-28 | by ( Summer Concepcion | ) www.cnbc.com time to read: +3 min

A federal appeals court on Thursday denied former President Donald Trump's request to halt proceedings in the upcoming E. Jean Carroll defamation trial. Circuit Court of Appeals to delay the case for 90 days while he considered appealing the court's previous rejection of his efforts to use presidential immunity as a defense. The appeals court denied that request on Thursday, allowing the trial to begin Jan. 16. U.S. District Judge Lewis Kaplan in June denied Trump's immunity argument, writing that presidential immunity is "not a 'get out of damages liability free' card." Trump has also raised the presidential immunity argument in the election interference case brought against him by special counsel Jack Smith.

Persons: Jean Carroll, Donald Trump's, Carroll, Trump, couldn't, District Judge Lewis Kaplan, Jack Smith ., Tanya Chutkan Organizations: Elle, U.S, Circuit, Trump, District, Jack Smith . U.S, Washington , D.C Locations: New York, Washington ,

☆ Trump 'made his own bed,' cannot add witness for writer's trial - judge
▼ + stars: | 2023-11-16 | by ( Jonathan Stempel | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +2 min

Trump had claimed he would suffer "extreme prejudice" without a new damages expert for the scheduled Jan. 16, 2024, trial. That Trump's chosen expert "was unreliable and would not testify had been known to him for months. Trump's lawyers are defending him at trial against New York Attorney General Letitia James' civil fraud claims related to his family business, the Trump Organization. In May, a jury ordered Trump to pay Carroll $5 million for sexual assault and defamation in a second lawsuit, after Trump again denied her claims in October 2022. The case is Carroll v. Trump, U.S. District Court, Southern District of New York, No.

Persons: Donald Trump, Steve Marcus, Donald Trump's, Jean Carroll, Trump, District Judge Lewis Kaplan, Kaplan, Letitia James, Carroll, Jonathan Stempel, Daniel Wallis Organizations: Republican U.S, Republican Jewish Coalition, Leadership, REUTERS, U.S, District, New York, Trump Organization ., Elle, Trump, Court, Southern District of, Thomson Locations: Las Vegas , Nevada, U.S, Manhattan, Southern District, Southern District of New York, New York

☆ Not having a jury has turned Trump's fraud trial into an ugly screwball comedy
▼ + stars: | 2023-11-16 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +13 min

Trump's lawyers complain to New York Supreme Court Justice Arthur Engoron that their gag order prevents them from complaining more. With no jury, Trump is the audienceThe trial is a bench trial, meaning there's no jury. he quipped to one of Trump's lawyers, Christopher Kise, who had objected to one of his rulings about how to structure several questions. AdvertisementJudge Arthur F. Engoron presides over former President Donald Trump's civil business fraud trial at the New York Supreme Court. Trump's lawyers have hemmed and hawed about Greenfield, Engoron's principal law clerk, who has donated to Democratic politicians.

Persons: Trump's, there's, —, Donald Trump, Arthur Engoron, Michael Cohen's, Trump, Letitia James, Engoron, James, Eric Trump, Donald Trump , Jr, Allen Weisselberg, Jeff McConney —, Jamie White, litigator, who's, White, Alina Habba, Christopher Kise, Seth Wenig Engoron, Kise, He's, Randy Zelin, Hillary Clinton, Engoron's, Allison Greenfield, — Trump, Arthur F, Donald Trump's, Mike Segar, Jean Carroll, Carroll, defaming, Trump —, Lewis Kaplan, Kaplan, Donald Trump Jr, David Dee Delgado, Zelin, he's Organizations: Service, Trump Organization, New York, York, AP, US Justice Department, Cornell Law School, Fox News, New York Supreme, Trump, Democratic Locations: York, Manhattan, New, New York, earshot, Greenfield, Woodstock

☆ Trump 'Made His Own Bed,' Cannot Add Witness for Writer's Trial - Judge
▼ + stars: | 2023-11-16 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

Trump had claimed he would suffer "extreme prejudice" without a new damages expert for the scheduled Jan. 16, 2024, trial. He said he hadn't foreseen a need for one until after U.S. District Judge Lewis Kaplan, who oversees the case, on Oct. 5 excluded testimony from another expert. That Trump's chosen expert "was unreliable and would not testify had been known to him for months. Trump's lawyers are defending him at trial against New York Attorney General Letitia James' civil fraud claims related to his family business, the Trump Organization. The case is Carroll v. Trump, U.S. District Court, Southern District of New York, No.

Persons: Jonathan Stempel, Donald Trump's, Jean Carroll, Trump, District Judge Lewis Kaplan, Kaplan, Letitia James, Carroll, Daniel Wallis Organizations: U.S, District, New York, Trump Organization ., Elle, Trump, Court, Southern District of Locations: Manhattan, Southern District, Southern District of New York, New York

☆ A timeline of Sam Bankman-Fried trial: Key moments leading up to FTX founder's conviction
▼ + stars: | 2023-11-03 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +5 min

Indicted FTX founder Sam Bankman-Fried leaves the United States Courthouse in New York City, U.S., July 26, 2023. MAY 2019Bankman-Fried and former Google employee Gary Wang found FTX as a new platform to trade crypto tokens and derivatives. Bankman-Fried debuts on the Forbes billionaires list, which estimates his net worth at $22.5 billion. Alameda gives crypto lender Voyager Digital a $200 million credit facility, and FTX gives lender BlockFi a $250 million loan. In a post-arrest blog post, Bankman-Fried denies stealing funds and blames FTX's collapse on a broader downturn in crypto markets.

Persons: Sam Bankman, Fried, Amr Alfiky, Gary Wang, Larry David, CoinDesk, Binance, FTX, Changpeng Zhao, David, Tom Brady, Wang, Caroline Ellison, District Judge Lewis Kaplan, Nishad Singh, Kaplan revokes, Luc Cohen, Noeleen Walder, Daniel Wallis Organizations: United, REUTERS, Massachusetts Institute of Technology, Jane Street Capital, Alameda Research, Google, Forbes, Alameda, NFL, DEC, U.S, District, New York Times, Metropolitan Detention Center, Thomson Locations: New York City, U.S, Alameda, Bahamas, Manhattan, United States, Palo Alto , California, New York

☆ Who is former crypto king Sam Bankman-Fried?
▼ + stars: | 2023-11-03 | by ( Samantha Delouya | Allison Morrow | ) edition.cnn.com time to read: +9 min

New York (CNN) — Sam Bankman-Fried, once known as a cryptocurrency whiz kid, was found guilty on Thursday for his role in the collapse of the cryptocurrency exchange FTX. His entrepreneurial drive didn’t stop there: In 2019, Bankman-Fried co-founded cryptocurrency exchange FTX and became its CEO. In December 2022, Bankman-Fried was arrested in the Bahamas after US prosecutors filed criminal charges against him. Jane Rosenberg/ReutersBankman-Fried was found guilty of stealing billions of dollars from accounts belonging to customers of his once-high-flying crypto exchange FTX. Immediately following FTX’s crash, crypto exchange Gemini, which was founded by Cameron and Tyler Winklevoss, froze customer redemptions in its lending unit, citing market turmoil.

Persons: — Sam Bankman, FTX, Jane Street, ”, Fried, “, …, ” Sam Bankman, Erika P, Rodriguez, Jane, Caroline Ellison, Binance, Sam Bankman, Danielle Sassoon, District Judge Lewis Kaplan, Jane Rosenberg, Joe Bankman, Barbara Fried, Bankman, Allan Joseph Bankman, Yuki Iwamura, Samuel Bankman, Saul Loeb, ingratiated, Tom Brady, Stephen Curry, Naomi Osaka, Larry David, Cameron, Tyler Winklevoss Organizations: CNN, Jane, Capital, MIT, Alameda Research, Chicago Tribune, Tribune, Service, SoftBank, U.S, District, Reuters, Bloomberg, Royal Bahamas Police Force, Billionaire, Stanford, FTX, Getty, Democratic Party, Federal, Commission, Republican, Agriculture, Nutrition, Forestry, Miami Heat, ”, New Locations: York, Alameda, North Berkeley , California, Nassau, Bahamas, BlackRock, Bankman, Hong Kong, United States, FTT, New York City, U.S, FTX, New York, Washington ,

Nov 3 (Reuters) - FTX founder Sam Bankman-Fried was convicted on Thursday of orchestrating a multibillion dollar fraud on the cryptocurrency exchange's customers. U.S. District Judge Lewis Kaplan set Bankman-Fried's sentencing for March 28, 2024. In denying Bankman-Fried's release from jail to prepare for trial, Kaplan said he could potentially face a "very long sentence." Circuit Court of Appeals to review his conviction, as well as rulings against him before and during the trial. His lawyer Mark Cohen said following Bankman-Fried's conviction that his client would continue to "vigorously fight the charges."

Persons: Sam Bankman, Fried, District Judge Lewis Kaplan, Kaplan, Amanda Perobelli, Will, Mark Cohen, Will Bankman, FTX, Jody Godoy, Luc Cohen, Noeleen Walder, Daniel Wallis Organizations: U.S, District, U.S . Former FTX, REUTERS, Circuit, Detention, Thomson Locations: Manhattan, New York City, U.S, Brooklyn's, FTX, New York

☆ Donald Trump to face anonymous jury in writer E. Jean Carroll's second trial
▼ + stars: | 2023-11-03 | by ( Jonathan Stempel | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +3 min

E. Jean Carroll exits the Manhattan Federal Court following the verdict in the civil rape accusation case against former U.S. President Donald Trump, in New York City, U.S., May 9, 2023. REUTERS/David Dee Delgado Acquire Licensing RightsNEW YORK, Nov 3 (Reuters) - A federal judge said Donald Trump will face an anonymous jury as it decides how much he should pay E. Jean Carroll for defaming the writer in 2019 by denying that he raped her. U.S. District Judge Lewis Kaplan in Manhattan said he found "strong reason" to provide special protections for jurors at the scheduled Jan. 16, 2024 civil trial. Neither Carroll, a former Elle magazine columnist, nor Trump, nor anyone else objected to using an anonymous jury, the judge said. Another anonymous jury in May ordered Trump to pay Carroll $5 million for sexual assault and defamation in a second lawsuit, after Trump again denied her claims in October 2022.

Persons: Jean Carroll, Donald Trump, David Dee Delgado, District Judge Lewis Kaplan, president's, Carroll, Kaplan, Letitia James, Trump, Goodman, Joe Biden, Jonathan Stempel, Rod Nickel Organizations: U.S, REUTERS, District, Trump, Mr, Elle, Republican, Democratic, Court, Southern District of, Thomson Locations: Manhattan, New York City, U.S, New, Carroll's, Southern District, Southern District of New York, New York

☆ Jury in Sam Bankman-Fried Trial Begins Deliberations
▼ + stars: | 2023-11-02 | by ( Corinne Ramey | James Fanelli | ) www.wsj.com time to read: 1 min

Earlier: FTX founder Sam Bankman-Fried is on trial for fraud and conspiracy charges after the collapse of his crypto empire last year. WSJ’s Alexander Osipovich breaks down what happened to FTX and what to look for as the trial unfolds. Photo illustration: Annie ZhaoJurors began deliberating Thursday afternoon on whether FTX founder Sam Bankman-Fried is guilty of fraud and other crimes that contributed to the collapse of the crypto exchange. “Now it’s your job to decide who you believe,” U.S. District Judge Lewis Kaplan told jurors before they started.

Persons: Sam Bankman, WSJ’s Alexander Osipovich, Annie Zhao, Fried, District Judge Lewis Kaplan Organizations: District Locations: U.S

The government is paying for pizza and Uber rides home for the 12 jurors in lower Manhattan who will decide the fate of Sam Bankman-Fried. In court on Thursday, U.S. District Judge Lewis Kaplan told jurors he would keep them until 8:15 p.m. as the criminal trial of the FTX founder enters its final stretch. Kaplan had previously hinted at the expedited timeline, while reassuring the jury that he wasn't rushing anyone. Now the trial moves to jury instructions and then deliberations. All three pleaded guilty to multiple charges and cooperated as witnesses for the prosecution.

Persons: Sam Bankman, District Judge Lewis Kaplan, Kaplan, Caroline Ellison, Bankman, FTX, Gary Wang, Nishad Singh Organizations: District, Stanford, Alameda Research Locations: Manhattan, Alameda

☆ Jurors in Sam Bankman-Fried criminal trial begin deliberations
▼ + stars: | 2023-11-02 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Indicted FTX founder Sam Bankman-Fried arrives at the U.S. Twelve jurors in a lower Manhattan courtroom have begun to deliberate the fate of FTX founder Sam Bankman-Fried following a month of testimony from nearly 20 witnesses. The case was handed to the jury around 3:15 p.m. on Thursday, after U.S. District Judge Lewis Kaplan finished reading aloud 60 pages worth of instructions. A verdict could come as early as Thursday afternoon, and Judge Kaplan previously ordered the jury to stay until 8:15 p.m, offering free pizza and Uber rides home. Judge Kaplan has encouraged the expedited timeline, holding jurors until 6:30 p.m. on Wednesday in order to finish closing arguments.

Persons: Sam Bankman, Fried, District Judge Lewis Kaplan, Judge Kaplan, he's, — Organizations: U.S, District, Alameda Research, Massachusetts Institute of Technology, Stanford Locations: New York City, Manhattan

☆ Donald Trump Jr. asked courtroom artist to make him 'look sexy' like an illustration of Sam Bankman-Fried
▼ + stars: | 2023-11-02 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

"Make me look sexy," Donald Trump Jr. told a courtroom illustrator after he finished testifying Thursday. The ex-president's son pointed out an image of Sam Bankman-Fried as inspiration. "He said, 'Make me look sexy,'" illustrator Jane Rosenberg told Insider. Eric Trump and Donald Trump Jr., both executives at the company, are co-defendants and testified this week. On the witness stand, Trump Jr. said he had no involvement in preparing documents about the Trump Organization's finances, even though he signed off on them.

Persons: Donald Trump Jr, Sam Bankman, Jane Rosenberg, —, Donald Trump, Rosenberg —, who's, Tom Brady, Harvey Weinstein —, Trump, Rosenberg, Sam Bankman Fried, 8l7Nn0zCN2 — Tom Breen, @TJBreen, Kimberly Guilfoyle, Letitia James, Eric Trump, Fried, Lewis Kaplan, Kaplan Organizations: Service, Trump Organization, Trump Jr, Reuters, New York, Trump, Alameda Research Locations: New York, Manhattan, Alameda

☆ Jurors are deliberating on Sam Bankman-Fried's fate. Here's what they'd have to agree on to convict the FTX founder.
▼ + stars: | 2023-11-02 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

Prosecutors charged him with money laundering and conspiring to defraud FTX and Alameda customers, investors, and lenders. Here's a breakdown of the seven charges jurors are considering. AdvertisementAdvertisementProsecutors allege he stole money from customers of FTX, the exchange, and used the funds for trades, investments, and property purchases through Alameda Research. AdvertisementAdvertisementIn addition to the criminal counts in this trial, Bankman-Fried faces another set of charges related to allegedly illegal campaign contributions. AdvertisementAdvertisementBeyond the criminal charges, Bankman-Fried has a slew of other legal problems, including negotiations over FTX's bankruptcy and civil lawsuits from regulators and investors who claim they were defrauded.

Persons: Sam Bankman, FTX, —, Fried, Lewis Kaplan, — Prosecutors, Caroline Ellison, it's, Kaplan, he's Organizations: Prosecutors, Service, Alameda Research, Bowl, — Locations: Alameda, Manhattan, Bahamas, FTX

After Kaplan left the courtroom, Cohen put his arm around Bankman-Fried as they spoke at the defense table. He testified that while he made mistakes running FTX, such as not formulating a risk-management team, he did not steal customer funds. "We thought that we might be able to build the best product on the market," Bankman-Fried testified. The defense argued the three, who have not yet been sentenced, falsely implicated Bankman-Fried in a bid to win leniency at sentencing. Bankman-Fried has been jailed since August after Kaplan revoked his bail, having concluded he likely tampered with witnesses.

Persons: Sam Bankman, Fried, Bankman, FTX, Damian Williams, Williams, Bernie Madoff, Jordan Belfort, District Judge Lewis Kaplan, Mark Cohen, Kaplan, Cohen, nodded, Joseph Bankman, Barbara Fried, Fried's, Danielle Sassoon, Caroline Ellison, Gary Wang, Nishad Singh, Luc Cohen, Jody Godoy, Will Dunham, Daniel Wallis Organizations: U.S . Justice, U.S, District, Massachusetts Institute of Technology, Marshals, Stanford Law, Prosecutors, Alameda Research, Former Alameda, Thomson Locations: Manhattan, Bankman, New York City, U.S, FTX, Alameda, New York, Lincoln

REUTERS/Jane Rosenberg Acquire Licensing RightsCompanies Champion Trust Llc FollowNEW YORK, Nov 1 (Reuters) - Sam Bankman-Fried's fraud trial is in the homestretch, with U.S. prosecutors and defense lawyers expected on Wednesday to present closing arguments to jurors over whether the FTX cryptocurrency exchange founder stole billions of dollars from customers. Prosecutors have accused him of stealing $8 billion in one of the biggest financial frauds in U.S. history. During his second day of testimony on Monday - when the prosecution began its cross-examination - Bankman-Fried said "I don't recall" at least 28 times. Closing arguments probably will take several hours, and jurors are not expected to get the case before Thursday. He has been jailed since August after Kaplan revoked his bail, having concluded that he likely tampered with witnesses.

Persons: Sam Bankman, Fried, Danielle Sassoon, Jane Rosenberg, FTX, Mark Cohen, Sassoon, District Judge Lewis Kaplan, Kaplan, Luc Cohen, Will Dunham Organizations: REUTERS, U.S, Alameda Research, Prosecutors, District, Thomson Locations: New York City, U.S, Manhattan, Alameda, FTX, New York

☆ Sam Bankman-Fried grilled on 'cozy' relationship with Bahamas officials
▼ + stars: | 2023-10-31 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

REUTERS/Jane Rosenberg Acquire Licensing RightsNEW YORK, Oct 31 (Reuters) - FTX founder Sam Bankman-Fried was grilled on Tuesday about what a U.S. prosecutor called his "cozy" relationship with officials in the Bahamas, where the cryptocurrency exchange was based before its November 2022 collapse. Sassoon asked. Bankman-Fried testified on Tuesday he could not remember whether he offered to pay off the Bahamas' national debt. Sassoon at one point asked Bankman-Fried whether he had "cultivated a cozy relationship" with the Bahamian government - a question to which the defense objected. Bankman-Fried testified that he had spent time with Bahamian officials and became close with "some of them."

Persons: Sam Bankman, Fried, Danielle Sassoon, Jane Rosenberg, Sassoon, Gary Wang, Bankman, District Judge Lewis Kaplan, Luc Cohen, Will Dunham Organizations: REUTERS, Alameda Research, FTX's, Miami Heat National Basketball Association, Bahamian, District, Thomson Locations: New York City, U.S, Bahamas, Manhattan, Alameda, Washington, New York

Bankman-Fried testified that he wasn't aware of the amount Alameda was borrowing from FTX, or its theoretical max. Prosecutors entered corroborating materials, including encrypted Signal messages and other internal documents that appear to show Bankman-Fried orchestrating the spending of FTX customer money. Similarly, Bankman-Fried testified that he believed the lavish Bahamas properties were being paid for with FTX operating cash that came from revenue and venture investments. The market had already dropped 70% and if it fell another 50%, he was afraid the firm would be insolvent, Bankman-Fried told the jury. In September, he checked in again with Ellison about the hedging activity, Bankman-Fried testified.

Persons: Sam Bankman, Fried, Fatih Aktas, that's, Caroline Ellison, Mark Cohen's, Cohen, FTX, Danielle Sassoon, District Judge Lewis Kaplan, Jane Rosenberg, —, Ellison, Sam, Nishad Singh, Gary Wang, Prosecutors, who'd, Michael M, Bankman, wasn't, Alameda, Singh, Shorter, Dawn Giel Organizations: Federal Court, Anadolu Agency, Getty, Alameda Research, U.S, District, Reuters, Stanford University, Alameda, Facebook, Google, Santiago Locations: New York, United States, Manhattan, Bankman, Alameda, Bahamas, New York City, U.S

Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, arrives at court in New York, U.S., August 11, 2023. Bankman-Fried has pleaded not guilty to two counts of fraud and five counts of conspiracy. Prosecutors have said he looted billions of dollars in FTX customer funds to prop up his hedge fund, Alameda Research, make speculative venture investments, and contribute to U.S. political campaigns. His decision to testify in his own defense is risky, as it opens him up to probing cross-examination by prosecutors. Reporting by Luc Cohen in New York; Editing by Will DunhamOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Eduardo Munoz, Mark Cohen, FTX, Fried, District Judge Lewis Kaplan, Luc Cohen, Will Dunham Organizations: REUTERS, Prosecutors, Alameda Research, Reuters, U.S, District, Thomson Locations: New York, U.S

☆ Sam Bankman-Fried Trial: FTX Founder Testifies For Third Day
▼ + stars: | 2023-10-30 | by ( ) www.wsj.com time to read: +1 min

It's another big day at Sam Bankman-Fried’s fraud trial. On Friday, U.S. District Judge Lewis Kaplan ruled that most of the FTX founder's proposed testimony on the involvement of FTX lawyers in his decisions and actions couldn’t be said in front of a jury. The ruling was a blow to Bankman-Fried, whose defense team had hoped to argue that the lawyers' involvement showed he was acting in good faith in circumstances that prosecutors have alleged were crimes. Bankman-Fried is on trial facing several fraud charges for his role in the collapse of his crypto exchange. Stay informed on Sam Bankman-Fried and the collapse of FTX:Video: Learn about Sam Bankman-Fried's testimonyMeet the main players in the FTX trialCatch up on what's happened so far in the trialListen to our special FTX trial podcast: The Trial of Crypto's Golden BoyRead how we got here and the charges facing Sam Bankman-Fried

Persons: Sam Bankman, District Judge Lewis Kaplan, founder's, couldn’t, Fried Organizations: District

☆ Why Sam Bankman-Fried wanted to spend $10 million a year to put FTX name on sports stadium
▼ + stars: | 2023-10-27 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +12 min

Prosecutors entered corroborating materials, including encrypted Signal messages and other internal documents that appear to show Bankman-Fried orchestrating the spending of FTX customer money. Similarly, Bankman-Fried testified that he believed the lavish Bahamas properties were being paid for with FTX operating cash that came from revenue and venture investments. As for the venture investments, Bankman-Fried said he thought that money was coming from Alameda's operating profits and third-party lending desks. Alameda's venture arm was renamed Clifton Bay Investments, which Bankman-Fried said was a first step in building a dedicated venture brand. When asked about loans he took from the business, Bankman-Fried said they were to pay for venture investments and political donations.

Persons: Sam Bankman, Amanda Perobelli, Fried, District Judge Lewis Kaplan, Mark Cohen, Bankman, Cohen, Sam Bankman Fried, Judge Lewis Kaplan, Elizabeth Williams, Caroline Ellison, Judge Kaplan, Jane, Banks, weren't, cryptocurrencies, FTX, Nishad Singh, Gary Wang, Singh, Wang, Prosecutors, Dan Friedberg, Fenwick, Marco Bello, Ryan Salame, Salame, Katy Perry, —, Dawn Giel Organizations: FTX, Reuters FTX, U.S, District, Stanford, Alameda Research, Elizabeth Williams Prosecutors, Massachusetts Institute of Technology, Alameda, Fenwick & West, Reuters, NFL's New, NFL's New Orleans Saints, Kansas City Chiefs, Facebook, Google, Clifton Bay Investments, Republicans Locations: Manhattan, New York City, U.S, Alameda, Bahamas, Berkeley , California, FTX, Friedberg, Miami , Florida, Miami, NFL's New Orleans, Clifton Bay, Los Angeles

☆ Sam Bankman-Fried testifies he regrets not hiring a risk management team at FTX before it collapsed and led to criminal charges against him
▼ + stars: | 2023-10-27 | by ( Katie Balevic | Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried was asked on the witness stand if he hired a risk management team for FTX. He lamented the lack of a risk management team at FTX, a common refrain of his as he works to deflect blame from himself in the company's catastrophic collapse. "Did you have a risk management team at FTX?" But no, we didn't," Bankman-Fried replied. Bankman-Fried testified he worked between 12 and 22 hours per day and took off one day per month to keep up with managing the growth.

Persons: Sam Bankman, Fried, —, Jane Street, Mark Cohen, FTX, Lewis Kaplan, who's, Kaplan Organizations: FTX, Prosecutors, Service, Alameda Research, US Locations: Alameda

☆ Sam Bankman-Fried Says FTX Actions Were Guided by Lawyers
▼ + stars: | 2023-10-26 | by ( Corinne Ramey | James Fanelli | ) www.wsj.com time to read: +1 min

FTX founder Sam Bankman-Fried is on trial for fraud and conspiracy charges after the collapse of his crypto empire last year. WSJ’s Alexander Osipovich breaks down what happened to FTX and what to look for as the trial unfolds. Photo illustration: Annie ZhaoFTX founder Sam Bankman-Fried previewed a potential defense Thursday when he told a federal judge that he relied on the blessing of lawyers to make business decisions such as deleting communications and making loans to himself, actions that prosecutors said allowed him to commit the crimes that led to the implosion of his crypto exchange. Bankman-Fried, on trial for fraud, money laundering and other offenses, had been expected to testify in front of a Manhattan federal jury on Thursday afternoon. Instead, in what amounted to an unusual practice session after the jury was dismissed for the day, U.S. District Judge Lewis Kaplan required the FTX founder to walk through several subjects that were in dispute so the judge could rule on what Bankman-Fried could say to jurors.

Persons: Sam Bankman, WSJ’s Alexander Osipovich, Annie Zhao FTX, Fried, District Judge Lewis Kaplan Organizations: District Locations: U.S

☆ Judge blasts Sam Bankman-Fried for 'interesting' answers on the witness stand to questions about using FTX customer funds
▼ + stars: | 2023-10-26 | by ( Katie Balevic | Jacob Shamsian | ) www.businessinsider.com time to read: +7 min

AdvertisementAdvertisement"Part of the problem is that the witness has what I'll simply call an interesting way of responding to questions," Kaplan said during the hearing. AdvertisementAdvertisementWhen Sassoon asked Bankman-Fried directly if he discussed spending FTX customer deposits with his lawyers, he took a long pause and looked down before he answered the question. Sassoon, questioning Bankman-Fried on the witness stand, asked Bankman-Fried to be more explicit about why he thought that explanation was acceptable. Asked directly by Sassoon if it was OK to steal customer funds, Bankman-Fried rejected that interpretation of events. Sassoon made that clear on Thursday as Kaplan asked for a broad timeline of the rest of the trial.

Persons: Sam Bankman, Fried, —, Lewis Kaplan, Kaplan, Mark Cohen, Danielle Sassoon, Sassoon, Bankman, Chelsea Jia Feng, I'm, Cohen, grumbled, Barbara Fried, " Cohen Organizations: Service, Alameda Research Locations: Manhattan, FTX, Alameda

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