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June 21 (Reuters) - Law firm Fenwick & West has hired its own outside legal team as it faces scrutiny over its role advising now-bankrupt cryptocurrency exchange FTX, including from the company's indicted founder Sam Bankman-Fried. Silicon Valley-founded Fenwick has turned to Gibson, Dunn & Crutcher as its advice becomes a focus of Bankman-Fried’s criminal defense, according to court documents and sources familiar with the situation. Nancy Hart and Kevin Rosen, leaders in Gibson Dunn's prominent law firm defense practice, are representing Fenwick on issues related to FTX, including in the Bankman-Fried criminal case and a federal class action lawsuit, sources said. The firm also counseled Bankman-Fried’s hedge fund Alameda Research, which is at the center of the criminal case against him. Fenwick, one of at least four major law firms to advise FTX, is not the only firm to be targeted by Bankman-Fried.
Persons: Fenwick, Sam Bankman, Gibson, Dunn, Nancy Hart, Kevin Rosen, Gibson Dunn, FTX, Bankman, Fried, Fenwick’s, Sullivan, Cromwell, Andrew Goudsward Organizations: West, Crutcher, Alameda Research, Prosecutors, Bankman, Thomson Locations: Silicon, Alameda, New York, Florida
The plaintiffs' lawyer who filed that case, Kerry Miller of Fishman Haygood, told me on Wednesday that he plans to monitor the Bankman-Fried criminal case for any Fenwick & West documents that might boost the class allegations. Companies are typically reluctant to waive privilege for fear that their lawyers’ documents might be used in other cases. That assertion seems to hint that Bankman-Fried will claim that he can personally waive privilege over some Fenwick & West communications. The strongest defense case, Sandick said, would probably feature testimony from a Fenwick & West witness to bolster testimony from Bankman-Fried about his reliance on advice from FTX lawyers. But contradictory testimony from a law firm witness could undermine Bankman-Fried’s advice-of-counsel defense.
Persons: Sam Bankman, Gresser, Fenwick, Fried, West, FTX, , , Bankman, District Judge Lewis Kaplan, Kaplan, Kerry Miller, Fishman Haygood, Cohen, Sullivan, Cromwell, Harry Sandick, Patterson Belknap Webb, Tyler, ” Sandick, Sandick, , ’ ”, Alison Frankel Organizations: Cohen, Fenwick & West, Alameda Research, Silvergate Bank, West, U.S, Prosecutors, Alameda, District, District Judge Lewis Kaplan of, Fenwick &, Manhattan U.S, Companies, Defense, Thomson, Reuters Locations: Fenwick, FTX, Alameda, Manhattan, California, District Judge Lewis Kaplan of Manhattan
CompaniesCompanies Law Firms FTX Trading Limited FollowMay 31 (Reuters) - Sam Bankman-Fried is seeking documents from a law firm that advised his defunct FTX cryptocurrency exchange, saying in a court filing that they could help him beat fraud charges. The former crypto mogul said the documents could prove that he relied on legal advice from Silicon Valley law firm Fenwick & West and did not believe he was breaking the law. Manhattan federal prosecutors must prove he knew his conduct was illegal. Bankman-Fried, the 31-year-old founder of now-defunct FTX Trading, has pleaded not guilty in Manhattan federal court to 13 counts of fraud, conspiracy, illegal campaign contributions and foreign bribery. Prosecutors allege Bankman-Fried stole billions of dollars in customer funds to plug losses in his hedge fund Alameda Research, which collapsed along with FTX last year after its risky cryptocurrency bets backfired.
Persons: Sam Bankman, Fried, Fenwick, FTX, District Judge Lewis Kaplan, , “ meritless ”, Palo, Jack Queen Organizations: West, Prosecutors, Alameda Research, U.S, District, Thomson Locations: Silicon Valley, Manhattan, Palo Alto , California, Bahamas
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