The shockingly fast arrest and indictment of Sam Bankman-Fried is the prosecutorial equivalent of breaking the sound barrier. Ankush Khardori writes on the charges against SBF and the fight to come
It is too early to try to predict with great confidence how this will end, particularly given all of the unknowns, but if you are a lawyer trying to construct a defense for Bankman-Fried, there are some standard lines of inquiry and themes that you are likely to try to develop.
At the moment, it is not clear how robust the department’s efforts on this front could have been, particularly since we know very little about what sorts of documents they have in their possession and how extensively they could have reviewed them. Both the Justice Department’s indictment and the SEC’s complaint contain conspicuously few references to such internal material.
On the merits, there are the usual defenses to a criminal fraud case based on alleged misrepresentations, which are likely to be in play here for at least the main wire fraud charges. To start, what were the actual, specific misrepresentations at issue? What is the evidence that those claims were false? And what is the evidence that Bankman-Fried knew that they were false at the time?
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FTX's Sam Bankman-Fried arrested in Bahamas, authorities sayIn a statement, U.S. Attorney Damian Williams said: 'Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. government, based on a sealed indictment filed by the United States Attorney’s Office for the Southern District of New York.'
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Breakingviews - Breakingviews: Sam Bankman-Fried lacks cover of systemic riskSam Bankman-Fried couldn’t be blamed for mulling over past financial scandals with a degree of envy. The former boss of bankrupt crypto exchange-cum-hedge-fund FTX was arrested on Monday in the Bahamas at the request of U.S. prosecutors. That hasn’t happened to many mainstream financial hall-of-shame executives in recent years. Questions of guilt aside, the decentralised nature of the product SBF was promoting may have played a role.
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Breakingviews - Sam Bankman-Fried lacks cover of systemic riskSam Bankman-Fried couldn’t be blamed for mulling over past financial scandals with a degree of envy. The former boss of bankrupt crypto exchange-cum-hedge-fund FTX was arrested on Monday in the Bahamas at the request of U.S. prosecutors. That hasn’t happened to many mainstream financial hall-of-shame executives in recent years. Questions of guilt aside, the decentralised nature of the product SBF was promoting may have played a role.
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FTX founder Sam Bankman-Fried arrested in Bahamas after U.S. files criminal charges - Jacksonville Business JournalHis arrest comes barely a month after the crypto exchange filed for bankruptcy.
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Top US Lawmaker Says FTX Hearing Will Continue Without Sam Bankman-FriedHouse Financial Services Committee Chairwoman RepMaxineWaters was 'disappointed' that arrested SBF_FTX wouldn't appear at the FTX hearing scheduled for Tuesday. Reports egreechee
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Fall from grace: Crypto's golden boy Sam Bankman-Fried arrested in BahamasIn a stunning development, former CEO of the cryptocurrency exchange platform FTX was arrested on December 12 at his apartment complex in The Bahamas.
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