SBF Trial: How Sam Bankman-Fried’s Lawyers Might Try and Win His Case - Ep. 551

Unchained

Laura Shin

News, Tech News, Business News

4.6 • 1.3K Ratings

🗓️ 3 October 2023

⏱️ 74 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The high-stakes trial of Sam Bankman-Fried is set to begin on October 3, and the FTX founder and former CEO will have to answer for his role in the cryptocurrency exchange’s downfall, which led to billions in losses. Both the prosecution and defense are currently preparing for what is set to be a significant milestone for the crypto industry. Kayvan Sadeghi, partner at Jenner & Block and Sam Enzer, partner at Cahill Gordon & Reindel, discuss the differences between a civil and criminal trial, what the jury selection process might look like, and what arguments the prosecution and defense might use to support their cases. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: The difference between a civil and criminal trial and why it's difficult for the defense to prepare while Sam Bankman-Fried is in jail Whether SBF was offered a plea deal and if so, why he didn't take it What the process of vetting jurors looks like and what both sides are looking for What a pre-opening jury charge is and why Judge Lewis A. Kaplan might choose to use it The importance of intent when it comes to SBF’s charges The pros and cons of the defense using the argument that the FTX founder was receiving poor legal advice What charges SBF is facing and whether the defense or prosecution has the upper hand How the opening statements of both the prosecution and the defense might play out Whether SBF will be put on the stand and why that could be a "dangerous" move, according to Sam How the defense could respond to testimony from key witnesses like Caroline Ellison or Gary Wang How Judge Kaplan being a "tough sentencer" could impact SBF’s jail sentence, according to Sam Thank you to our sponsors! Crypto.com LayerZero Popcorn Network Guests: Kayvan Sadeghi, partner and co-chair of Fintech & Crypto Assets at Jenner & Block Previous appearance on Unchained: Why the SEC vs. Ripple Order Is Now About 2 Things: Coinbase and Congress Samson Enzer, partner at Cahill Gordon & Reindel. Links Previous coverage from Unchained on Sam Bankman-Fried and FTX: Here’s How Sam Bankman-Fried’s High-Stakes Trial Could Play Out Why FTX Might Try to Claw Back Funds From Retail Customers How Much Prison Time Is FTX’s Sam Bankman-Fried Facing? Why the Legal Process for FTX and Sam Bankman-Fried Could Take Years The Chopping Block: SBF Wants to Win in the Court of Public Opinion. Will He? Jesse Powell and Kevin Zhou on How FTX and Alameda Lost $10 Billion Sam Bankman-Fried on How to Prevent the Next Terra and 3AC Details of the trial: Unchained: FTX: The Exchange That Brought Down the Industry CoinDesk: Here's the Sam Bankman-Fried Trial Schedule The SBF Trial: How Did We Get Here? Here’s How FTX Founder Sam Bankman-Fried’s Trial May Play Out Forbes: Sam Bankman-Fried Could Face 'Very Long Sentence,' Judge Says Before Denying Release SBF’s defense team: Unchained: Sam-Bankman-Fried Files New Request for Temporary Release Before Trial CoinDesk: U.S. Department of Justice Opposes Sam Bankman-Fried's Latest Move for 'Temporary Release' Key witnesses: Unchained: SBF’s Expert Witnesses Barred From Testifying at Trial Reuters: Who is Caroline Ellison, a key witness set to testify against Sam Bankman-Fried? NYT: Prosecutors Detail Evidence Against Sam Bankman-Fried - The New York Times CoinDesk: All of Sam Bankman-Fried's Proposed Expert Witnesses Should Be Barred From Testifying: DOJ Judge Blocks Sam Bankman-Fried's Proposed Witnesses From Testifying Business Insider: Sam Bankman-Fried is being sent to jail after a judge revoked his bail over alleged witness tampering Jury selection: CoinDesk: Sam Bankman-Fried Can Ask DOJ Witnesses About Drug Use Cointelegraph: Sam Bankman-Fried’s political donations can be surfaced in trial, rules judge Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	very dangerous to call the defendant. However, you may be in a situation where the government puts
0:05.0	their case on and you are going to lose. There is no way you're winning. Your only shot is a
0:10.2	Hail Mary. Okay, let's put them on. The other side of the coin is it's very powerful when a
0:14.7	defendant testifies. It makes it much harder for the jury to convict. They're not dealing with
0:21.3	characterizations of a person anymore. They're dealing with that person. They have heard the person
0:27.4	speak intimately in a courtroom. And even in cases I've had where a defendant testified,
0:32.5	even when the jury ends up convicting, it often takes them longer to get there because it's a
0:37.6	harder decision when a human being testifies to them. Starting on Tuesday, October 3rd,
0:43.1	the day this episode airs, the world will be watching the criminal trial of the United States
0:47.9	versus Sam Bankman-Freed. In this episode, my guests cave on Sadegi and Samson Enzer unpack what
0:54.2	it is we're likely to see in the trial. Starting with what kinds of potential jurors it is that both
0:58.9	the prosecution and the defense will want to deselect from the jury pool this week. Why it's even
1:04.5	gotten to the point of a criminal trial given that three co-conspirators have already pleaded guilty,
1:09.5	what the core of the trial centers around and why it is they think the fact that it involves
1:14.4	crypto won't matter. Plus, they explore the effectiveness of one potential defense from Bankman-Freed's
1:20.4	side, the so-called advice of council defense that says that FTX's own lawyers approved of the
1:26.7	company's actions. And finally, they raise the question that everyone will be looking for. We'll
1:32.6	Sam testify. Hi, everyone. Welcome to Unchained, your no-hype resource for all things crypto. I'm your
1:41.6	host, Laura Shin, author of The Cryptopians. I started covering crypto eight years ago and as a
1:47.2	senior editor Forbes was the first main chain media reporter to cover cryptocurrency full-time.
1:51.8	This is the October 3rd, 2023 episode of Unchained. Buy, trade and spend crypto on the Crypto.com app.
1:58.9	New users can enjoy zero credit card fees on crypto purchases in the first seven days.
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