Get the scoop on finance - sign up for mobile alerts
Regulators
| On
October 2, 2023

DOJ Says Agency Will Call Sam Bankman-Fried’s Coconspirators Who Entered Guilty Pleas To Witness Stand

By Alex Richardson

The U.S. Department of Justice (DOJ) says that the coconspirators of FTX co-founder Sam Bankman-Fried who have already pleaded guilty will be called to the witness stand during litigation against the disgraced former billionaire.

In new court documents, the US government tells Judge Kaplan that it anticipates questioning several types of witnesses, including FTX customers and investors.

ADVERTISEMENT

The government also expects to call former colleagues of Bankman-Fried who have already entered guilty pleas.

Says the DOJ,

“The Government expects to call certain witnesses who entered guilty pleas to participating in a conspiracy to commit wire fraud with the defendant and who are testifying pursuant to cooperation agreements, as well as witnesses who will testify pursuant to grants of immunity for their testimony.

The Government anticipates that these witnesses will testify regarding their interactions and conversations with the defendant, including their understanding of the meaning of statements and instructions given to them by the defendant. This coconspirator testimony is probative of the manner in which the conspirators agreed to perpetrate the scheme and the method by which they communicated in furtherance of the scheme.”

ADVERTISEMENT

So far, four FTX executives have pleaded guilty to charges relating to the collapse of the exchange, including former CEO of FTX Digital Markets Ryan Salame, former FTX director Nishad Singh, co-founder Gary Wang and former Alameda Research CEO Caroline Ellis.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
&nbsp
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Vezdehod