1 year ago
Attorneys defending ex-FTX main Sam Bankman-Fried are keen to interrogate the erstwhile CTO of the now-dissolved speech concerning idiosyncratic loans ranging from $200-300 million, a caller missive from Cohen & Gresser LLP reveals. Former CTO Gary Wang is acceptable to instrumentality to the basal connected Tuesday, with reports suggesting that ex-Alameda Research CEO Caroline Ellison volition travel suit.
$300M Loans Under the Microscope successful FTX Legal Battle
A letter from the attorneys representing Sam Bankman-Fried seeks support from the justice to let definite lines of questioning during the cross-examination of Gary Wang, a witnesser for the prosecution. The defence wants to question Wang astir the engagement of FTX attorneys successful structuring and executing idiosyncratic loans worthy $200-300 cardinal that Wang received from Alameda Research to money investments and acquisition property.
The prosecution’s nonstop introspection of Wang already revealed that FTX attorneys were progressive with the loans, according to the lawyer Chris Everdell astatine Cohen & Gresser LLP. The defence argues this enactment of questioning is applicable to Bankman-Fried’s bully religion and lack of transgression intent regarding the wealth laundering conspiracy charge. The indictment alleges Bankman-Fried took steps to conceal the root of funds for investments arsenic coming from FTX lawsuit funds transferred done Alameda.
Questioning Wang astir his knowing that the loans were structured by lawyers, memorialized successful notes, and imposed existent obligations could rebut the assertion the loans were a sham to conceal the root of funds. Wang reportedly told the prosecution helium relied connected the lawyers regarding the loans and did not deliberation they were designed to beryllium amerciable oregon conceal Alameda arsenic the root of funds.
This corroborates Bankman-Fried’s knowing that the loans were proper. Consequently, the defence seeks the judge’s support to probe Wang connected these subjects during cross-examination. Last week, Wang shared insights with the justice astir Alameda’s unsocial advantages and a whopping $65 cardinal recognition line. He elaborate how, successful collaboration with developer Nishad Singh, they crafted the “allow negative” function, permitting Alameda to commercialized without backed credit. After the cross-examination, erstwhile Alameda Research CEO Caroline Ellison is slated to testify.
What bash you deliberation astir the lawyer’s missive to the justice astir Wang’s cross-examination? Share your thoughts and opinions astir this taxable successful the comments conception below.
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