The Sam Bankman-Fried (SBF) trial reached a head on Nov. 1, with both sides providing their closing arguments to the jury before it ponders on a decision.
The prosecution’s closing argument focused on painting Bankman-Fried as a serial phony driven by greed and who purposefully took consumer deposits on deceptive terms and invested them.
The defense informed the jury that the federal government’s representation of the previous billionaire was unreasonable and incorrect, keeping Bankman-Fried’s failings to be a series of organization errors.
Greed and scams
Assistant U.S. Attorney Nicolas Roos started the prosecution’s closing declarations by stressing the massive weight of the proof provided by essential witnesses throughout the trial. He restated to the jury:
“Almost a year earlier, countless individuals from all over the world who transferred cash with FTX began withdrawing funds.”
It is indisputable that an incredible $10 billion from FTX’s crypto exchange disappeared, with a part made use of for different functions such as realty financial investments, loan payments, and political contributions.
Roos continued the heart of the matter for the jury: whether SBF acknowledged his actions in misusing the funds as incorrect. He asserted:
“The accused schemed and lied to get cash, which he invested.”
Roos likewise highlighted the distinction in SBF’s disposition when responding to concerns postured by his defense compared to those from the prosecution. He explained the duplicated circumstances where the accused reacted with “I can’t remember” throughout questioning, keeping in mind the number went beyond 140 times.
The district attorney likewise gave the jury’s attention the timeline of doubtful monetary choices made by straight and exclusively SBF, consisting of huge transfers to numerous entities and individual expenditures. Roos ended his argument by mentioning:
“That’s all you require to understand to discover him guilty.”
Roos offered an extensive timeline to jurors throughout his speech, detailing minutes such as SBF finding a $13.7 billion hole in FTX’s financial resources and subsequent monetary deals, recommending they showcased the offender’s regret.
SBF acted in excellent faith
The defense painted a starkly various photo for the jury throughout its closing argument as lead counsel Mark Cohen took the helm to protect SBF.
Cohen began by informing the jury that the federal government’s representation of SBF is a caricature that has actually attempted to make him appear like a “beast” and a “bad guy.” He argued that the case was developed on the incorrect property that FTX was developed as a deceitful business to take client funds deliberately.
Cohen regreted the story the prosecution had actually spun, comparing it to a motion picture where his customer was being damned. He included that the prosecution had actually utilized SBF’s way of life options and relationships to depict him as a “beast” without showing his regret. Cohen mentioned:
“Every film requires a bad guy.”
The defense went on to bifurcate the case into 2 unique durations. The very first covered from 2019 to 2021,